Most Affordable Neighborhoods in Roanoke, VA
Some of the cheapest neighborhoods in Roanoke are River Land, Roundhill, and Garden City. These neighborhoods offer some of the lowest rent prices in Roanoke, making them ideal for renters on a budget. As of April 30, 2025, the average rent in Roanoke is $1,076, which is 0.6% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
River Land
Average Rent
$950/Month
TransitScore® Rating
34/100
Units Available
2 Rentals
River Land is an affordable neighborhood in Roanoke with an average rent price of $950. Compare this to the city average of $1,076. River Land provides easy access to Roanoke Ivy Market, Science Museum of Western Virginia, and Wolf Creek Greenway. It’s a car-dependent neighborhood with a WalkScore® of 46.
Roundhill
Average Rent
$969/Month
Year-Over-Year Rent Change
0.7%
TransitScore® Rating
30/100
Units Available
5 Rentals
If you’re looking for a great, affordable neighborhood in Roanoke, Roundhill might be the perfect place! It has an average rent price of $969, while the city’s average stands at $1,076. In the last year, prices have increased by 0.7%. Roundhill is near Wolf Creek Greenway, Woodpecker Ridge Nature Center, and Virginia Western Comm. Coll..
Garden City
Average Rent
$1,016/Month
TransitScore® Rating
21/100
Units Available
4 Rentals
Garden City is a top choice for budget-conscious renters for a variety of reasons. The average rent in Garden City is $1,016 while the city average is $1,076. Residents enjoy convenient access to Virginia Western Comm. Coll., Radford University Carilion, and Roanoke Ivy Market. The neighborhood is considered car-dependent with a WalkScore® of 36.
Riverdale
Average Rent
$1,016/Month
Year-Over-Year Rent Change
7.3%
TransitScore® Rating
22/100
Units Available
4 Rentals
When you’re looking for a great Roanoke neighborhood on a budget, check out Riverdale. The average rent is $1,016, compared to the city average of $1,076. Rent prices have increased by 7.3%. Riverdale is convenient to Roanoke/Blacksburg Regional (Woodrum Field), Roanoke College, and Radford University Carilion. The community is car-dependent with a WalkScore® of 22.
Old Southwest
Average Rent
$1,131/Month
Year-Over-Year Rent Change
0.3%
TransitScore® Rating
45/100
Units Available
17 Rentals
Old Southwest is an affordable neighborhood in Roanoke with an average rent price of $1,131. Compare this to the city average of $1,076. In the past year, rent prices have increased by 0.3%. Old Southwest provides easy access to Hollins University, Mill Mountain Zoo, and Radford University Carilion. It’s a walkable neighborhood with a WalkScore® of 73.
Hollins
Average Rent
$1,146/Month
Year-Over-Year Rent Change
4.7%
TransitScore® Rating
1/100
Units Available
9 Rentals
If you’re looking for a great, affordable neighborhood in Roanoke, Hollins might be the perfect place! It has an average rent price of $1,146, while the city’s average stands at $1,076. In the last year, prices have increased by 4.7%. Hollins is near Woodpecker Ridge Nature Center, Roanoke/Blacksburg Regional (Woodrum Field), and Hollins University.
Fair Land
Average Rent
$1,207/Month
Year-Over-Year Rent Change
4.4%
TransitScore® Rating
30/100
Units Available
4 Rentals
Fair Land is a top choice for budget-conscious renters for a variety of reasons. The average rent in Fair Land is $1,207 while the city average is $1,076. This is a -4.4% difference from last year. Residents enjoy convenient access to Radford University Carilion, Roanoke Plaza, and Mill Mountain Zoo. The neighborhood is considered car-dependent with a WalkScore® of 33.
Belmont
Average Rent
$1,219/Month
Year-Over-Year Rent Change
4.2%
TransitScore® Rating
45/100
Units Available
25 Rentals
When you’re looking for a great Roanoke neighborhood on a budget, check out Belmont. The average rent is $1,219, compared to the city average of $1,076. Rent prices have decreased by 4.2%. Belmont is convenient to Wolf Creek Greenway, Science Museum of Western Virginia, and Mill Mountain Zoo. The community is walkable with a WalkScore® of 73.
Downtown Roanoke City
Average Rent
$1,243/Month
Year-Over-Year Rent Change
1.9%
TransitScore® Rating
51/100
Units Available
40 Rentals
Downtown Roanoke City is an affordable neighborhood in Roanoke with an average rent price of $1,243. Compare this to the city average of $1,076. In the past year, rent prices have increased by 1.9%. Downtown Roanoke City provides easy access to Roanoke/Blacksburg Regional (Woodrum Field), Wolf Creek Greenway, and Roanoke Ivy Market. It’s a walkable neighborhood with a WalkScore® of 90.
Miller Court-Arrowood
Average Rent
$1,371/Month
Year-Over-Year Rent Change
1.7%
TransitScore® Rating
24/100
Units Available
21 Rentals
If you’re looking for a great, affordable neighborhood in Roanoke, Miller Court-Arrowood might be the perfect place! It has an average rent price of $1,371, while the city’s average stands at $1,076. In the last year, prices have increased by 1.7%. Miller Court-Arrowood is near Mill Mountain Zoo, City Line Square, and Roanoke College.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.