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ZIP Code · VA

ZIP 24016

Part of Roanoke, VA
Pop. 10,521·Roanoke City·197th most expensive ZIP in Virginia
Median rent (all units)
$1,105/mo
Year-over-Year
+9.9%
Month-over-Month
+3.1%
vs US Median
-$860
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 24016 · $1,105
More affordable than 95% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$940
1 BR
$990
2 BR
$1,180
3 BR
$1,640
4 BR+
$1,980
Research median
$1,180/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: July 20, 2026

Annual cost
$13,260/yr
At $1,105/mo median
Location
StateVA
CountyRoanoke City
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 9.9% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+9.9% YoY, +3.1% MoM), not inventory.
Demographics

Who lives here

ZIP 24016 (Roanoke, VA) is majority renter-occupied, has a large share of families with children, has a median income below the national average, 28.4% of residents hold a bachelor's degree or higher.

Population
10,521
Median income
$46,512
Median age
32.7
Renters
78.7%
Age distribution
26.2%
27.2%
23.7%
13.4%
Under 1826.2%
18–3427.2%
35–5423.7%
55–649.4%
65+13.4%
Gender
46.6%
53.4%
Male46.6%
Female53.4%
Race & ethnicity
43.9%
45%
White43.9%
Black45%
Hispanic4.3%
Asian3.3%
Other3.4%
Education (25+)
27.8%
31.9%
28.4%
No HS diploma12%
HS diploma27.8%
Some college31.9%
Bachelor's+28.4%
Housing tenure
21.3%
78.7%
Owner21.3%
Renter78.7%

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

2021 vs 2026

How ZIP 24016 in Roanoke, VA has changed in 5 years

Income
$34,621 → $46,512
up 34.3%
Population
9,428 → 10,521
up 11.6%
Renter share
78.5% → 78.7%
+0.2 pts
Bachelor's+
26.2% → 28.4%
+2.2 pts
Median age
33.9 → 32.7
-1.2 yrs

Median household income grew from $34,621 to $46,512 between 2021 and 2024, a 34.3% shift. Headcount in the area went from 9,428 to 10,521 between 2021 and 2024, a 11.6% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 26.2% to 28.4%.

Community

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Local insights

Tips for renters in ZIP 24016

About renting in ZIP 24016

Last updated: July 20, 2026

ZIP code 24016 covers Roanoke, VA. The median rent here is $1,105/mo as of July 2026. A 1-bedroom rents for a median of $990/mo. A 2-bedroom rents for a median of $1,180/mo.

At 29% of local median household income ($46,512/yr), ZIP 24016 ranks as affordable compared to the national benchmark of 30%. Rents have increased 9.9% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 24016?

As of July 20, 2026, the median monthly rent in ZIP 24016 (Roanoke, VA) is $1,105. This is based on aggregated data from public sources and community submissions.

How does ZIP 24016 rent compare to the US average?

ZIP 24016's median rent of $1,105/mo is $860 (44%) below the US national median of $1,965/mo.

How does ZIP 24016 compare to other ZIPs in Virginia?

ZIP 24016 is among the more affordable ZIP codes in Virginia, ranking #197 out of 198 ZIPs at $1,105/mo.

How much income do you need to rent in ZIP 24016?

To keep rent at or below 30% of gross income, you would need to earn at least $44,000/year (~$21/hour full-time) to afford the median rent of $1,105/mo in ZIP 24016. The local median household income is $46,512/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 24016?

Rent in ZIP 24016 has increased 9.9% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 24016 an affordable place to rent?

ZIP 24016 is considered affordable for renters. At $1,105/mo, rent takes approximately 29% of the local median household income ($46,512/yr). The standard benchmark is 30%. ZIP 24016 falls comfortably within that range.

What percentage of ZIP 24016 residents rent vs. own?

According to Census data, approximately 78.7% of ZIP 24016 households are renters, while 21.3% are owner-occupied. With a majority renter population, ZIP 24016 has a strong rental market.

How does ZIP 24016 compare to the rest of Roanoke?

ZIP 24016 is more affordable than Roanoke overall. At $1,105/mo, it's $289 below the Roanoke citywide median of $1,394/mo.

When was rent data for ZIP 24016 last updated?

Rent data for ZIP 24016 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
29%
AFFORDABLE

At $1,105/mo, rent takes ~29% of ZIP 24016's median household income ($46,512/yr). The standard benchmark is 30%.

ZIP 24016 29%Benchmark 30%
State income tax2–5.75%
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Schools nearby

Public schools near ZIP 24016 (Roanoke, VA)

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