Cost of Living in Roanoke, VA
Housing
The housing market plays a significant role in determining the cost of living in Roanoke, VA.
- Housing Index: 95.0 / 100
- Median Home Price is: $241000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1400 per month
In analyzing the housing market in Roanoke, VA, the housing index stands at 95.0, indicating it's slightly lower than the national average, making it an affordable chooser. With a median home price of 241000 and average rental costs of 1200 for a 2-bedroom apartment and 1400 for a 2-bedroom house, residents can find a reasonable balance between renting and buying. Bear in mind, local amenities, schools, and overall living conditions can heavily influence property values, so it's beneficial to explore these further.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Roanoke, VA.
- Electricity Price: $15.31 USD (median by state)
- Natural Gas Price: $19.91 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Roanoke, VA could entail higher utility costs. Electricity costs sit at $15.31, while natural gas is priced at $19.91 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Roanoke is a financially viable option for your relocation.