Cheap Homes for Rent in Roanoke, VA from $500 (23 Rentals)

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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property at 111 Kirk Ave SW

111 Kirk Ave SW

RoanokeVA24011

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 1609 19th St NE

1609 19th St NE

RoanokeVA24012

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Showing Results 1-23, Page 1 of 1

Roanoke, VA Local Guide

Cheapest Neighborhoods for Apartments in Roanoke, VA

Pricing Updated: 12/15/2025

Current apartment rentals in the Roanoke, VA area range in price from $595 to $3,561 with an overall median price of $1,948. The three Roanoke neighborhoods with the lowest median rent pricing are Downtown Roanoke City at $950, Williamson Road at $750, and Airport at $710. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Roanoke Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Roanoke City$1,249$9508
Williamson Road$1,419$75055
Airport$1,450$71064
Gainsboro$1,450$59587
Hollins$1,450$65065
Riverdale$1,571$75042
Belmont$1,670$75069
Hollins Roanoke City$1,707$65071
Eastgate$1,775$75053
Mecca Gardens$1,775$1,09946

Cheapest Available Roanoke Apartments for Rent

 

The cheapest available apartment rental in Roanoke, VA is a 1 Bed unit found at Harrison School in the Gilmer neighborhood priced from $615. Ridgeview Apartments in the Monterey neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $710. Here is today’s list of the most affordable Roanoke apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Harrison SchoolOne Bedroom One Bathroom1BR,1BA$615
Ridgeview ApartmentsStudioStudio,1BA$710
The Everett1 Bed, 1 Bath A Income-Restricted1BR,1BA$849
Cedarwood Apartments1BR/1.0BA1BR,1BA$895
Flats at Thrasher Park1x11BR,1BA$899

Best Value Apartments for Rent in Roanoke, VA

As of December 15, 2025 the best value apartment in the Roanoke area is the $0.95 price per square foot House Model at 3120 Stoneridge Rd SW in the in the Southern Hills neighborhood starting from $2,475. The second greatest value Roanoke apartment is the The Cedar Point Model at Cedar Point starting at $1,692 with a $1.25 price per square foot in the Deyerle neighborhood. Here is today’s list of the best values for Roanoke apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
3120 Stoneridge Rd SWHouse4BR,3BA$0.95
Cedar PointThe Cedar Point3BR,2.5BA$1.25
The Aspen2 Bedroom2BR,2BA$1.06
Blue Ridge Village Apartments2/1.5 50% AMI2BR,1.5BA$0.94
1801 Grandin Road Southwest1801 Grandin Road Southwest - 18012BR,1.5BA$1.14
Countryside Estates2 Bedroom x 1 Bathroom Classic Floor Plan2BR,1BA$1.10
Peters Creek Apartments - Tax Credit2BR/2BA2BR,2BA$0.91
Gardens At Grandin - II1BR/1.0BA1BR,1BA$1.14
1843 Oxford Ave SW, Unit Grandin Village Room #11843 Oxford Ave SW1BR,1BA$0.97
Harrison SchoolOne Bedroom One Bathroom1BR,1BA$1.05

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Roanoke, VA
Population: 99,920

Ranked #312

in US Census Population by City

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Pet Friendly Lifestyle
Roanoke, VA

Ranked #30

Among cities in Virginia for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Roanoke, VA

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Roanoke, VA Rentals by Map

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See the most popular apartments and homes in Roanoke, VA

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Roanoke, VA Apartments Map
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Roanoke, VA Rental Homes Map

Frequently Asked Questions about Roanoke

What type of rentals are currently available in Roanoke?

There are currently 381 Apartments for Rent in Roanoke, VA with pricing that ranges from $595 to $3,561. There are also 103 Single Family Homes for rent, Condos, and Townhome rentals currently available in Roanoke ranging from $595 to $6,500.

What is the current price range for Rental Homes in Roanoke?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Roanoke ranges from $595 to $6,500 with an average monthly rent of $1,645.

How much are larger Three and Four Bedroom Rentals in Roanoke?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Roanoke range from $1,047 to $3,561, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,195 to $3,500. Four Bedroom Single-Family rentals are also available starting from $1,295 and Four Bedroom Apartments start at $1,775.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.