24020, Roanoke, VA

The 24020 zip code of Roanoke, VA has a median home value of $128,000 and a median home equity of $101,000. This means that the majority of homes in this zip code are valued at more than their original purchase price. Additionally, the average home value growth rate for this zip code is 2.8% over the past five years. This indicates that there is strong demand for housing in this area and that prices are likely to continue to rise in the future.

Given these factors, it is not surprising that homeownership rates in this zip code are above the national average. In fact, nearly two-thirds (64%) of households in this zip code are owner-occupied, which is significantly higher than the national average of 62%. This high level of homeownership may be attributable to several factors, including low interest rates and strong demand for housing within the local market.

Overall, it appears that homeownership rates and home values in the 24020 zip code are stable or growing slightly over time, which suggests that residents here have confidence in both their current housing situation and the local economy overall.