Roanoke city, Virginia: commercial real estate data.
Roanoke city, Virginia had an estimated 97,912 residents on July 1, 2024, down 2.1 percent since the 2020 census base of 100,016, across 43 square miles. 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 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Roanoke city
How many people live in Roanoke city
- Population, American Community Survey 2020-202498,355
- 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-equivalents, Puerto Rico included632nd of 3,222
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 moderately unaffordable 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, July 1, 202497,912
- Census 2020 base population100,016
- Population change since the 2020 census base-2.10 percent
- Population change, 2023 to 2024409
- 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 of 3,144
The county has lost 2.10 percent of its population since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration 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
- Tax returns filed by households leaving3,966
- Net household movement-358
- Adjusted gross income arriving$186.3 m
- Net adjusted gross income movement$-59.4 m
- Average income of an arriving household$51,623
- Average income of a leaving household$61,940
- Largest single originRoanoke County (934 households)
- Largest single destinationRoanoke County (1,144 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Roanoke County | 934 | 1,456 | $46.9 m |
| Salem city | 264 | 455 | $11.3 m |
| Bedford County | 151 | 249 | $6.2 m |
| Botetourt County | 142 | 210 | $9.8 m |
| Franklin County | 141 | 231 | $7.6 m |
| Montgomery County | 104 | 147 | $4.4 m |
| Lynchburg city | 36 | 62 | $1.3 m |
| Mecklenburg County | 35 | 56 | $1.8 m |
Households arriving report $10,317 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Roanoke County, 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 the Virginia areas BEA publishes16th of 105
- Rank by GDP among the US county areas BEA publishes436th of 3,127
- 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
Employment by industry in Roanoke city
- Covered employment, annual average65,679
- Establishments reporting3,548
- Average annual pay$62,732
- Average weekly wage$1,206
- Health care and social assistance, employment13,746
- Health care and social assistance, average annual pay$78,126
- Retail trade, employment7,122
- Retail trade, average annual pay$36,105
- Accommodation and food services, employment5,715
- Accommodation and food services, average annual pay$25,218
- Construction, employment4,438
- Construction, average annual pay$73,517
- Manufacturing, employment4,043
- Transportation and warehousing, employment4,017
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 13,746 | 684 | $78,126 |
| Retail trade | 7,122 | 456 | $36,105 |
| Accommodation and food services | 5,715 | 281 | $25,218 |
| Construction | 4,438 | 232 | $73,517 |
| Manufacturing | 4,043 | 102 | $67,833 |
| Transportation and warehousing | 4,017 | 88 | $53,348 |
| Management of companies and enterprises | 3,199 | 44 | $88,695 |
| Professional, scientific and technical services | 2,793 | 341 | $89,335 |
Health care and social assistance is the largest private sector at 13,746 jobs, 20.9 percent of covered employment.
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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Roanoke city
Building permits in Roanoke city
- Housing units authorized by permit, 2024113
- Declared construction value permitted$25.2 m
- Single family units authorized101
- Multifamily units authorized12
- Multifamily share of units10.6 percent
- Average declared value per unit$223,181
- Units authorized per 1,000 households2.6
Single-family homes are 89.4 percent of units authorized, so the pipeline is predominantly single-family.
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$177,500
- 10th percentile approval$18,250
- 90th percentile approval$1,600,200
- 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)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$46.3 m
The average approval of $516,109 sits well above the median of $177,500, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here 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
- Status: Exempt from disclosure37
- Status: Paid in full11
- Status: Cancelled12
- Status: Charged off1
- Status: Committed, not yet disbursed3
Only 12 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
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.
Roanoke city
Flood risk in Roanoke city
- Participation of the county's own NFIP community Roanoke, city ofParticipating, community 510130
- Community Rating System class of the county's own communityClass 6
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 6
- Communities carrying a CRS class1
- Radon levels in Roanoke city, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, the City of Roanoke (community 510130), participates in the National Flood Insurance Program and carries Community Rating System class 6, a flood insurance premium discount for policies written there. The EPA places Roanoke city in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 6, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-202498,355
- 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?
The Census Bureau estimates 97,912 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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 of 100,016, to 97,912 on July 1, 2024. 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 employment by industry in Roanoke city?
Health care and social assistance is the largest private sector at 13,746 jobs, 20.9 percent of covered employment. Covered employment averages 65,679 jobs at an average annual pay of $62,732, or $1,206 a week. 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 totaling $33.0 m since FY2020, across 24 lenders, with a median approval of $177,500, plus 23 504 approvals worth $13.3 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Roanoke city?
113 housing units were authorized 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 County, with 934 households. Arriving households report an average income of $51,623 against $61,940 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
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