24011, Roanoke, VA

The Roanoke, VA 24011 zip code has a population of around 116,000 people and is located in the southwestern part of the state. The median household income in this zip code is around $60,000 which is considerably higher than the national median household income of $53,046. The home equity and home prices in this area are both quite high relative to other parts of the country.

As of August 2017, there were an estimated 9,500 homes for sale in the Roanoke 24011 zip code and the average list price was $269,900. This represents a 12% increase over the previous year and a 25% increase over the previous five years. The median home value in this area is $269,900 which is significantly higher than both the statewide median home value ($183,600) and national median home value ($177,700).

There are several factors that contribute to high home values in Roanoke 24011 zip code. First and foremost is its proximity to major metropolitan areas such as Charlottesville (population: approximately 120,000), Richmond (population: approximately 237,000), and Washington D.C. (population: approximately 695,000). These larger cities have a large number of jobs available as well as high incomes which leads to increased demand for housing within their respective neighborhoods. Additionally, Roanoke 24011 zip code has a low rate of foreclosure activity relative to other parts of Virginia which also contributes to high property values.