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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 9,943, 3,620 total housing units (homes and apartments), and a median house value of $470,727, Roanoke real estate is some of the most expensive in Texas, although Roanoke home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Roanoke, accounting for 55.80% of the city's housing units. Other types of housing that are prevalent in Roanoke include large apartment complexes or high rise apartments ( 29.95%), mobile homes or trailers ( 8.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.20%).
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 58.48% owning and 41.52% renting.
Roanoke homes and real estate are some of the newest in America. 58.37% of Roanoke's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Roanoke real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 40.58%), and between 1940-1969 ( 1.05%).
Appreciation rates for homes in Roanoke have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 108.95%, which ranks in the top 30% nationwide. This equates to an annual average Roanoke house appreciation rate of 7.65%.
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 2.20%, 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 1.89%, which equates to an annual appreciation rate of 7.76%.
Relative to Texas, our data show that Roanoke's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.
$470,727
for Texas
for nation
3,620
$2,667 / per month