Roanoke city, Virginia: commercial real estate data.
Roanoke city, Virginia has a population of 98,355 across 43 square miles, down 2.1 percent since the 2020 census base. County output reached $10.06 bn in 2024, 3,151 establishments operate here, and the SBA record carries 64 7(a) approvals worth $33.0 m.
116 sourced county values · tier FULL · 10 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Roanoke city
How many people live in Roanoke city
- Population98,355
- Households43,575
- Average household size2.26
- Median household income$55,378
- Median age38.3
- Median gross rent$996 per month
- Median owner-occupied home value$190,500
- Home value to household income3.4 times
- Annual rent as a share of median income21.6 percent
- Adults 25 and over with a bachelor degree or higher30.0 percent
- Adults 25 and over with a graduate degree11.5 percent
- Adults 25 and over68,787
- Population under 1822,254
- Share under 1822.6 percent
- Population 65 and over17,466
- Share 65 and over17.8 percent
- Working age population, 18 to 6458,635
- Civilian labor force48,417
- Unemployment rate5.6 percent
- Labor force participation, adults 18 and over63.6 percent
- Rank by population among Virginia independent cities20th of 133
- Rank by population among US county-equivalents632nd
Roanoke city is the 20th largest of 133 Virginia independent cities by population. A median home costs 3.4 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 22.6 percent against 17.8 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Roanoke city
Is Roanoke city's population growing?
- Population change since the 2020 census base-2.10 percent
- Census 2020 base population100,016
- Births, 20241,343
- Deaths, 20241,476
- Natural change, 2024-133
- Net domestic migration, 2024-9
- Net international migration, 2024556
- Total net migration, 2024547
- Cumulative net domestic migration, 2021 to 2024-2,815
- Rank by growth among US county-equivalents2524th
The county has lost 2.10 percent of its population since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Roanoke city
Where are people moving to Roanoke city from?
- Tax returns filed by households arriving3,608
- People arriving, from those returns5,619
- Adjusted gross income arriving$186.3 m
- Net adjusted gross income movement$0
- Average income of an arriving household$51,623
- Largest single originRoanoke city Non-migrants (35,749 households)
- Largest single destination (35,749 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Roanoke city Non-migrants | 35,749 | 64,809 | $2.22 bn |
| Other flows - Different State | 1,192 | 1,873 | $69.2 m |
| Roanoke County | 934 | 1,456 | $46.9 m |
| Other flows - South | 666 | 1,071 | $35.2 m |
| Other flows - Same State | 388 | 563 | $16.7 m |
| Salem city | 264 | 455 | $11.3 m |
| Other flows - Northeast | 220 | 329 | $14.7 m |
| Other flows - West | 173 | 269 | $10.7 m |
The largest single source of arrivals is Roanoke city Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Roanoke city
What is the Roanoke city economy?
- County GDP, 2024$10.06 bn
- County GDP, 2023$9.53 bn
- GDP change, 2023 to 20245.6 percent
- GDP change over five years34.0 percent
- Rank by GDP among Virginia independent cities16th
- Rank by GDP among US county-equivalents436th
- GDP per resident$102,289
Output grew 5.6 percent in the latest year and 34.0 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Roanoke city
Largest employers in Roanoke city
- Covered employment, annual average65,679
- Establishments reporting3,548
- Average annual pay$62,732
- Average weekly wage$1,206
- Sector 62, employment13,746
- Sector 62, average annual pay$78,126
- Sector 44-45, employment7,122
- Sector 44-45, average annual pay$36,105
- Sector 72, employment5,715
- Sector 72, average annual pay$25,218
- Sector 23, employment4,438
- Sector 23, average annual pay$73,517
- Sector 31-33, employment4,043
- Sector 48-49, employment4,017
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 13,746 | 684 | $78,126 |
| Sector 44-45 | 7,122 | 456 | $36,105 |
| Sector 72 | 5,715 | 281 | $25,218 |
| Sector 23 | 4,438 | 232 | $73,517 |
| Sector 31-33 | 4,043 | 102 | $67,833 |
| Sector 48-49 | 4,017 | 88 | $53,348 |
| Sector 55 | 3,199 | 44 | $88,695 |
| Sector 54 | 2,793 | 341 | $89,335 |
The largest sector is the biggest private employer group at 13,746 jobs, 20.9 percent of covered employment. Average pay per job exceeds median household income, which usually means single earner households and a wage base that can carry rent.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Roanoke city
How many businesses are in Roanoke city?
- Establishments, all industries3,151
- Employment at those establishments66,628
- Annual payroll$3.84 bn
- Establishments per 1,000 residents32.0
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Roanoke city
Building permits in Roanoke city
- Housing units authorised by permit, 2024113
- Declared construction value permitted$25.2 m
- Single family units authorised101
- Multifamily units authorised12
- Multifamily share of units10.6 percent
- Average declared value per unit$223,181
- Units authorised per 1,000 households2.6
Multifamily is 10.6 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Roanoke city
SBA loans in Roanoke city (7(a) and 504)
- 7(a) approvals recorded64
- 7(a) gross approval dollars$33.0 m
- Average 7(a) approval$516,109
- Median 7(a) approval$205,000
- 10th percentile approval$17,500
- 90th percentile approval$1,776,000
- Largest single approval$3,605,000
- Jobs reported supported, 7(a)1,253
- Jobs per approval19.6
- Distinct 7(a) lenders active24
- Distinct industries receiving approvals38
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer12.5 percent
- Loans on real estate terms8
- Loans on working capital terms, 120 months or shorter50
- Franchise loans9
- Franchise share of approvals14.1 percent
- Leading industry by approval countLimited-Service Restaurants (6)
- Most active lenderPinnacle Bank (8)
- 504 approvals recorded23
- 504 gross approval dollars$13.3 m
- Average 504 approval$577,565
- Median 504 approval$275,000
- Distinct CDCs active2
- 504 jobs per approval16.7
- 504 jobs per million dollars approved28.9
- Most active CDCBusiness Finance Group, Inc. (17)
- 7(a) share of SBA approvals73.6 percent
- Combined SBA approval dollars$46.3 m
The average approval of $516,109 sits well above the median of $205,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 12.5 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Roanoke city
SBA loan default and charge-off rates in Roanoke city
Do SBA loans in Roanoke city get paid back?
- Loans with a final outcome recorded12
- Paid in full11
- Charged off1
- Charge off rate on resolved loans8.3 percent
- Status: Exempt from disclosure37
- Status: Paid in full11
- Status: Cancelled12
- Status: Charged off1
- Status: Committed, not yet disbursed3
Of the 12 loans that have reached a final outcome, 8.3 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Roanoke city
How large is Roanoke city?
- Land area43 sq mi
- Rank by land area among Virginia independent cities104th of 133
- Width, east to west8.5 mi
- Height, north to south8.6 mi
- Geographies sharing a boundary2
- Residents per square mile of land2,287
- Establishments per square mile73.28
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Roanoke city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Roanoke city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population98,355
- Households43,575
- Average household size2.26
- Median household income$55,378
- Median age38.3
Common questions
Roanoke city questions, answered from the record.
How many people live in Roanoke city, Virginia?
98,355, in 43,575 households, ranking 20th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Roanoke city's population growing?
The population has fallen 2.10 percent since the 2020 census base. In 2024 there were 1,343 births against 1,476 deaths, with net migration of 547. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Roanoke city?
$55,378. The median owner-occupied home is valued at $190,500, which is 3.4 times income, and median gross rent is $996 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Roanoke city?
3,151 establishments, employing 66,628 people with an annual payroll of $3.84 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Roanoke city?
Average annual pay is $62,732, or $1,206 a week, across 65,679 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Roanoke city?
64 7(a) approvals totalling $33.0 m since FY2020, across 24 lenders, with a median approval of $205,000, plus 23 504 approvals worth $13.3 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Roanoke city get paid back?
Of the 12 loans that have reached a final outcome, 11 were paid in full and 1 charged off, a charge off rate of 8.3 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Roanoke city?
113 housing units were authorised by permit in 2024, with a declared construction value of $25.2 m. Multifamily was 10.6 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Roanoke city?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Roanoke city come from?
The largest single origin is Roanoke city Non-migrants, with 35,749 households. Arriving households report an average income of $51,623 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Roanoke city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Roanoke city?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.