| Index | Roanoke | Virginia | National |
| Cost of living | 95 | 111 | 100 |
| Groceries | 103 | 103 | 100 |
| Health care | 102 | 103 | 100 |
| Housing | 76 | 129 | 100 |
| Transportation | 103 | 105 | 100 |
| Utilities | 104 | 104 | 100 |
| Lifestyle & Entertainment | 105 | 103 | 100 |
| Household Items | 104 | 102 | 100 |
| Education & Childcare | 103 | 109 | 100 |
Knowing the cost of living in Roanoke allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Roanoke stands at 95, marking it 5% lower than the national average.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Roanoke are priced in a manner consistent with other areas. This means that residents of Roanoke can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 16 locals to understand their opinions on the cost of living in Roanoke. The results indicated that 63% found it reasonably priced with decreasing prices of goods and services, while 38% viewed it as quite expensive, with increasing prices.
Is Roanoke an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Roanoke, the median home price is 27.4% lower than what most folks pay across the country, and monthly rent prices are 15.9% lower than the usual rates. Income levels in Roanoke come in at $68,155, which is 16.2% lower than the national average.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Roanoke, the transportation index is 3.2% higher than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Roanoke, healthcare costs are 2.3% higher than the national average.
Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.
The cost of living data for Roanoke shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $87,024 | $7,252 | $2,030 | $2,611 |
| Renters | $46,120 | $3,843 | $1,076 | $1,384 |
| State | General Sales Tax | With Max Surtax |
| Virginia | 5.3% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Virginia | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Lafayette, VA | 840 | 103 | 2.8% |
| Montvale, VA | 502 | 95 | 4.9% |
| Boones Mill, VA | 154 | 97 | 3.3% |
| Vinton, VA | 8,401 | 97 | 3.2% |
| Elliston, VA | 1,068 | 99 | 1.0% |
| Roanoke, VA | 102,987 | 95 | 4.7% |
| City | Population | Cost of Living Index | National Avg. |
| Kenosha, WI | 102,872 | 96 | 3.8% |
| Vacaville, CA | 103,113 | 151 | 51.0% |
| Vista, CA | 102,779 | 158 | 58.2% |
| Spokane Valley, WA | 102,600 | 114 | 14.0% |
| Boca Raton, FL | 102,418 | 148 | 48.0% |
| Roanoke, VA | 102,987 | 95 | 4.7% |
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