Cheap Homes for Rent in Roanoke, VA from $400 (8 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

Roanoke, VA Local Guide

Cheapest Neighborhoods for Apartments in Roanoke, VA

Pricing Updated: 05/01/2025

Current apartment rentals in the Roanoke, VA area range in price from $660 to $3,992 with an overall median price of $1,916. The three Roanoke neighborhoods with the lowest median rent pricing are South Roanoke at $890, Colonial Avenue Area at $890, and Deyerle at $890. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Roanoke Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
South Roanoke$1,754$89060
Colonial Avenue Area$1,762$89059
Deyerle$1,762$890108
Grandin Court$1,762$89039
Mill Mountain$1,762$92552
Raleigh Court$1,762$69566
Wasena$1,762$75075
Cave Spring$1,777$750130
Old Southwest$1,777$92542
Walnut Hill$1,777$75070

Cheapest Available Roanoke Apartments for Rent

 

The cheapest available apartment rental in Roanoke, VA is a Studio unit found at Ridgeview Apartments in the Fair Land neighborhood priced from $660. The Everett in the Gilmer neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $890. Here is today’s list of the most affordable Roanoke apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Ridgeview ApartmentsStudioStudio,1BA$660
The Everett1 Bed 1Bath - 1C1BR,1BA$890
Stone Ridge Apartments1 bedroom1BR,1BA$925

Best Value Apartments for Rent in Roanoke, VA

As of May 01, 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 2/1.5 50% AMI Model at Blue Ridge Village Apartments starting at $1,045 with a $0.94 price per square foot in the Gilmer 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
Blue Ridge Village Apartments2/1.5 50% AMI2BR,1.5BA$0.94
The Aspen2 Bedroom2BR,2BA$1.27
The Vista at Orchards2BR2BR,2BA$1.23
Countryside Estates2 Bedroom x 1 Bathroom Classic Floor Plan2BR,1BA$1.24
Peters Creek Apartments - Tax Credit2BR/2BA2BR,2BA$1.12
1732 Hanover Ave NW, Unit B1732 Hanover Ave NW2BR,1BA$1.06
301 Gilmer Ave2 Beds, 1 Baths2BR,1BA$1.24
1117 Rugby Blvd NW, Unit B1117 Rugby Blvd NW2BR,1BA$1.12
1714 Melrose Ave NW, Unit 21714 Melrose Ave NW2BR,1BA$1.23

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Roanoke

What type of rentals are currently available in Roanoke?

There are currently 370 Apartments for Rent in Roanoke, VA with pricing that ranges from $660 to $3,992. There are also 53 Single Family Homes for rent, Condos, and Townhome rentals currently available in Roanoke ranging from $495 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 $495 to $3,030 with an average monthly rent of $1,529.

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 $1,095 to $3,992, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $3,030. Four Bedroom Single-Family rentals are also available starting from $1,595 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.

decorative image for Navigating the Rental Market: Tips for First-Time Renters article

Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

decorative image for Rise of Digital Nomads: Remote Work Tips for Apartment Renters article

Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

decorative image for Know Your Rights - How Discrimination Laws Impact Landlords and Tenants article

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.