24014, Roanoke, VA

The Roanoke, VA 24014 zip code is located in the Shenandoah Valley region of Virginia. The median home value in this zip code is $183,000 and the median home equity value is $141,000. This means that there are a majority of homes in this zip code that are worth more than their original purchase price. Additionally, the average home price appreciation rate for this zip code over the past five years has been 10%. This indicates that there is strong demand for homes in this area and that prices are likely to continue to rise.

One reason why home values have increased so much in the Roanoke, VA 24014 zip code is because of the strong economy. Since 2007, when the recession began, unemployment rates have consistently been below 5%, which has led to an increase in demand for homes. Additionally, since 2010 there has been an influx of families moving into this area due to its excellent schools and low cost of living. These families are looking for affordable housing options and are willing to pay a higher price for a quality home than they would be able to find elsewhere in Virginia or nationwide.

Another factor contributing to high home values in the Roanoke, VA 24014 zip code is scarcity. There are not as many homes available for sale as there used to be and those that are available tend to sell quickly due to strong demand from buyers. In addition, many homeowners who bought their homes before 2007 have seen their values increase significantly as a result of inflation (due to rising prices overall). As a result, there is now a large pool of homeowners who are able to sell their homes at a high price if they choose to do so.

Overall, it appears that prices will continue increasing in the Roanoke 24014 zip code over the next few years due bothto strong economic conditions and limited supply of properties on the market