ZIP Code · VA

ZIP 24012

Part of Roanoke, VA

Pop. 28,235·Roanoke City·181st most expensive ZIP in Virginia

Median rent (all units)

$1,344/mo

Year-over-Year

+7.6%

Month-over-Month

+0.7%

vs US Median

-$588

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 24012 · $1,344

More affordable than 84% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,000

1 BR

$1,050

2 BR

$1,250

3 BR

$1,740

4 BR+

$2,100

Research median

$1,250/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 24012 is at its highest level since Zillow's records here began in December 2022.

Past year vs. the rest of Virginia

Rent in ZIP 24012 changed +7.6% over the year to September 2026. Across the 169 Virginia ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has risen 3 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($52,973) is $1,324 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,250); a 3-bedroom is $1,740.

Rank in Roanoke

5th cheapest of 8 ZIP codes in Roanoke.

Cheaper nearby

ZIP 24016, 4 miles away, rents for 18% less ($1,102/mo), about $2,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 24012. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$16,128/yr

At $1,344/mo median

Location

CityRoanoke

StateVA

CountyRoanoke City

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 7.6% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+7.6% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 24012 (Roanoke, VA) is roughly split between renters and owners, has a median income below the national average, 25.6% of residents hold a bachelor's degree or higher.

Population

28,235

Median income

$52,973

Median age

39.8

Renters

47.2%

Age distribution

21.5%

22.9%

24.8%

18.8%

Under 1821.5%

18–3422.9%

35–5424.8%

55–6412%

65+18.8%

Gender

49%

51%

Male49%

Female51%

Race & ethnicity

60.2%

17.8%

13.9%

White60.2%

Black17.8%

Hispanic13.9%

Asian4.3%

Other3.9%

Education (25+)

32.9%

29.5%

25.6%

No HS diploma12%

HS diploma32.9%

Some college29.5%

Bachelor's+25.6%

Housing tenure

52.8%

47.2%

Owner52.8%

Renter47.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 24012 in Roanoke, VA has changed in 5 years

Rent

$1,071 → $1,344

up 25.5%

Income

$48,930 → $52,973

up 8.3%

Population

29,770 → 28,235

down 5.2%

Renter share

42.5% → 47.2%

+4.7 pts

Bachelor's+

21.9% → 25.6%

+3.7 pts

Across the past five years, the going rent in ZIP 24012 in Roanoke, VA has shifted from $1,071 to $1,344, up 25.5% since 2023. Local incomes tracked alongside that move, going from a median of $48,930 in 2021 to $52,973 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 24012 in Roanoke, VA losing about 1,535 residents over the five-year window, down 5.2% on net. The renter share has risen from 42.5% to 47.2%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 21.9% to 25.6% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 24012 in Roanoke, VA market of 2023.

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About renting in ZIP 24012

Last updated: October 17, 2026

ZIP code 24012 covers Roanoke, VA. The median rent here is $1,344/mo as of October 2026. A 1-bedroom rents for a median of $1,050/mo. A 2-bedroom rents for a median of $1,250/mo.

At 30% of local median household income ($52,973/yr), ZIP 24012 ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 24012?

To keep rent at or below 30% of gross income, you would need to earn at least $54,000/year (about $26/hour full-time) to afford the median rent of $1,344/mo in ZIP 24012. The local median household income is $52,973/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 24012?

Rent in ZIP 24012 has risen 7.6% over the past year as of September 2026. That is the highest level since Zillow's records here began in December 2022.

How does ZIP 24012 compare to other ZIPs in Virginia?

ZIP 24012 is one of the more affordable among Virginia ZIP codes for rent, ranking #181 of 194 at $1,344/mo. Over the year to September 2026, rent in ZIP 24012 changed +7.6%, against a typical +3.4% across the 169 Virginia ZIP codes Zillow tracks.