Cheap Homes for Rent in Roanoke, VA from $500 (10 Rentals)

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Search the lowest-cost Homes available for rent right now in Roanoke.

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.

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Roanoke, VA Local Guide

Cheapest Neighborhoods for Apartments in Roanoke, VA

Pricing Updated: 06/21/2025

Current apartment rentals in the Roanoke, VA area range in price from $695 to $4,109 with an overall median price of $1,794. The three Roanoke neighborhoods with the lowest median rent pricing are Walnut Hill at $695, Williamson Road at $695, and River Land at $695. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Roanoke Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Walnut Hill$1,282$69549
Williamson Road$1,282$69548
River Land$1,300$69548
Gainsboro$1,334$69562
Downtown Roanoke City$1,500$1,0499
Belmont$1,630$69555
Hollins Roanoke City$1,675$69549
Airport$1,685$78636
Grandin Court$1,691$79532
Colonial Avenue Area$1,724$79543

Cheapest Available Roanoke Apartments for Rent

 

The cheapest available apartment rental in Roanoke, VA is a Studio unit found at Ridgeview Apartments in the Monterey neighborhood priced from $660. The Patrick Henry in the Gilmer neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $854. Here is today’s list of the most affordable Roanoke apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Ridgeview ApartmentsStudioStudio,1BA$660
The Patrick HenryS1 - 4Studio,1BA$854
The Everett1 Bed 1Bath - 1A1BR,1BA$900

Best Value Apartments for Rent in Roanoke, VA

As of June 21, 2025 the best value apartment in the Roanoke area is the $1.13 price per square foot One bed 1 1/2 bath Model at Horton Lofts in the in the Gilmer neighborhood starting from $1,875. The second greatest value Roanoke apartment is the 3x2.5 Model at Langdon Square starting at $1,799 with a $1.20 price per square foot in the Hurt Park 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.
Horton LoftsOne bed 1 1/2 bath1BR,1.5BA$1.13
Langdon Square3x2.53BR,2.5BA$1.20
WestWind Apartment Homes2 bedroom with den2BR,1.5BA$1.18
2314 Wycliffe Ave SW, Unit B2314 Wycliffe Ave SW2BR,1BA$1.08
Blue Ridge Village Apartments2/1.5 50% AMI2BR,1.5BA$0.94
Peters Creek Apartments - Tax Credit2BR/2BA2BR,2BA$1.12
2225 Berkley Ave SW, Unit Apt. 22225 Berkley Ave SW2BR,1BA$1.15
1732 Hanover Ave NW, Unit B1732 Hanover Ave NW2BR,1BA$0.91
1827 Jerome St SE, Unit 18271827 Jerome St SE2BR,1BA$0.89
1117 Rugby Blvd NW, Unit B1117 Rugby Blvd NW2BR,1BA$1.12

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Frequently Asked Questions about Roanoke

What type of rentals are currently available in Roanoke?

There are currently 384 Apartments for Rent in Roanoke, VA with pricing that ranges from $695 to $4,109. There are also 65 Single Family Homes for rent, Condos, and Townhome rentals currently available in Roanoke ranging from $575 to $3,030.

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 $575 to $3,030 with an average monthly rent of $1,348.

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 $861 to $4,109, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,195 to $3,030. Four Bedroom Single-Family rentals are also available starting from $1,400 and Four Bedroom Apartments start at $1,725.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.