Roanoke, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Roanoke, AL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Roanoke Housing Market Information

With 6,005 people, 2,449 houses or apartments, and a median cost of homes of $78,217, house prices in Roanoke are some of the most affordable in Alabama as well as the nation.

Single-family detached homes are the single most common housing type in Roanoke, accounting for 69.29% of the city's housing units. Other types of housing that are prevalent in Roanoke include mobile homes or trailers ( 12.79%), large apartment complexes or high rise apartments ( 12.79%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.12%).

The most prevalent building size and type in Roanoke are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.93% owning and 42.07% renting.

There is a lot of housing in Roanoke built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Roanoke built between 1940-1969 ( 28.31%). A lesser amount of the housing stock also hails from before 1939 ( 15.91%). There's also some housing in Roanoke built between 2000 and later ( 6.63%).

Vacant housing appears to be an issue in Roanoke. Fully 12.25% of the housing stock is classified as vacant. Left unchecked, vacant Roanoke homes and apartments can be a drag on the real estate market, holding Roanoke real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Roanoke Home Appreciation Rates

Roanoke's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Roanoke during the period has been just -1.35%, which is lower than 80% of US communities.

Over the last year, Roanoke appreciation rates have trailed the rest of the nation. In the last twelve months, Roanoke's appreciation rate has been 1.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Roanoke were at -0.55%, which equates to an annual appreciation rate of -2.17%.

Notably, Roanoke's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Alabama, our data show that Roanoke's latest annual appreciation rate is lower than 60% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$78,217

Roanoke, AL HOME PRICES

Value Range
> $994,000 2.6
$746,001 - $994,000 0.2
$497,001 - $746,000 0.0
$398,001 - $497,000 0.0
$299,001 - $398,000 1.8
$199,001 - $299,000 6.0
$99,001 - $199,000 24.3
$50,001 - $99,000 40.3
$0 - $50,000 24.8

Very Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
92.0779905146671 80.75

Number Of Homes And Apartments:
2,449

Roanoke Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
6.98% 0.39% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$773 / per month

Homeownership Rate

Homeownership
Owners 57.93
Renters 42.07
Vacant 12.25

Housing Market Details

 

Age of Homes

AGE OF Roanoke HOMES
2000 or Newer 6.6
1970 - 1999 49.2
1940 - 1969 28.3
1939 or Older 15.9

Types of Homes

TYPE OF Roanoke HOMES
Single-Family 69.3
Townhomes 0.0
Small Apt. Buildings 5.1
Apt. Complexes 12.8
Mobile Homes 12.8
Other 0.0

Home Size

SIZE OF Roanoke HOMES
No Bedroom 9.82
1 Bedroom 6.13
2 Bedrooms 28.20
3 Bedrooms 45.43
4 Bedrooms 8.81
5 or more bedrooms 1.61

Popular Neighborhoods in Roanoke

Zip Codes in Roanoke, AL