Cities with the fastest growing home prices in Roanoke metro area

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November 23, 2022
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Cities with the fastest growing home prices in Roanoke metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Roanoke, VA metro area using data from Zillow. Cities are ranked by 1-year price change as of September 2022. The typical home value in the United States increased over the last year by +14.1% to $356,054. All 22 cities and towns with data available were included in the list.

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Stacker

#22. Gladehill, Gladehill

- 1-year price change: +$6,234 (+2.6%)
- 5-year price change: +$71,049 (+39.7%)
- Typical home value: $250,182 (#13 most expensive city in metro)
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Stacker

#21. Rocky Mount, Rocky Mount

- 1-year price change: +$6,587 (+3.1%)
- 5-year price change: +$59,770 (+37.2%)
- Typical home value: $220,349 (#16 most expensive city in metro)
3 / 22
Stacker

#20. Callaway, Callaway

- 1-year price change: +$9,835 (+4.0%)
- 5-year price change: +$71,249 (+38.6%)
- Typical home value: $255,894 (#12 most expensive city in metro)
4 / 22
Stacker

#19. Boones Mill, Boones Mill

- 1-year price change: +$11,645 (+4.4%)
- 5-year price change: +$80,729 (+41.5%)
- Typical home value: $275,307 (#10 most expensive city in metro)
5 / 22
Stacker

#18. Ferrum, Ferrum

- 1-year price change: +$12,600 (+6.5%)
- 5-year price change: +$59,149 (+39.9%)
- Typical home value: $207,225 (#18 most expensive city in metro)

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6 / 22
Stacker

#17. Covington, Covington

- 1-year price change: +$13,223 (+11.6%)
- 5-year price change: +$33,859 (+36.2%)
- Typical home value: $127,342 (#22 most expensive city in metro)
7 / 22
Stacker

#16. Wirtz, Wirtz

- 1-year price change: +$15,430 (+4.3%)
- 5-year price change: +$106,057 (+39.6%)
- Typical home value: $373,648 (#4 most expensive city in metro)
8 / 22
Stacker

#15. New Castle, New Castle

- 1-year price change: +$16,540 (+9.7%)
- 5-year price change: +$45,486 (+32.1%)
- Typical home value: $187,241 (#19 most expensive city in metro)
9 / 22
Stacker

#14. Eagle Rock, Eagle Rock

- 1-year price change: +$17,284 (+11.1%)
- 5-year price change: +$46,067 (+36.1%)
- Typical home value: $173,606 (#21 most expensive city in metro)
10 / 22
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#13. Buchanan, Buchanan

- 1-year price change: +$21,197 (+11.0%)
- 5-year price change: +$58,341 (+37.4%)
- Typical home value: $214,253 (#17 most expensive city in metro)

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11 / 22
Stacker

#12. Copper Hill, Copper Hill

- 1-year price change: +$21,717 (+10.7%)
- 5-year price change: +$74,391 (+49.5%)
- Typical home value: $224,689 (#15 most expensive city in metro)
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Stacker

#11. Cloverdale, Cloverdale

- 1-year price change: +$26,663 (+10.7%)
- 5-year price change: +$72,190 (+35.4%)
- Typical home value: $276,315 (#9 most expensive city in metro)
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#10. Penhook, Penhook

- 1-year price change: +$28,015 (+7.1%)
- 5-year price change: +$120,769 (+39.9%)
- Typical home value: $423,193 (#2 most expensive city in metro)
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#9. Salem, Salem

- 1-year price change: +$29,545 (+12.7%)
- 5-year price change: +$76,189 (+41.0%)
- Typical home value: $261,809 (#11 most expensive city in metro)
15 / 22
Stacker

#8. Henry, Henry

- 1-year price change: +$31,251 (+20.5%)
- 5-year price change: +$66,858 (+57.2%)
- Typical home value: $183,722 (#20 most expensive city in metro)

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#7. Roanoke, Roanoke

- 1-year price change: +$32,943 (+15.7%)
- 5-year price change: +$86,757 (+55.5%)
- Typical home value: $242,961 (#14 most expensive city in metro)
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#6. Troutville, Troutville

- 1-year price change: +$34,091 (+11.5%)
- 5-year price change: +$90,200 (+37.5%)
- Typical home value: $330,466 (#6 most expensive city in metro)
18 / 22
Stacker

#5. Fincastle, Fincastle

- 1-year price change: +$35,064 (+11.7%)
- 5-year price change: +$93,573 (+38.8%)
- Typical home value: $334,581 (#5 most expensive city in metro)
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#4. Bent Mountain, Bent Mountain

- 1-year price change: +$36,195 (+14.5%)
- 5-year price change: +$96,656 (+51.0%)
- Typical home value: $286,280 (#7 most expensive city in metro)
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#3. Catawba, Catawba

- 1-year price change: +$37,011 (+15.0%)
- 5-year price change: +$91,900 (+47.8%)
- Typical home value: $284,076 (#8 most expensive city in metro)

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Stacker

#2. Daleville, Daleville

- 1-year price change: +$41,144 (+11.3%)
- 5-year price change: +$112,780 (+38.6%)
- Typical home value: $405,109 (#3 most expensive city in metro)
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Stacker

#1. Union Hall, Union Hall

- 1-year price change: +$103,878 (+17.9%)
- 5-year price change: +$260,261 (+61.5%)
- Typical home value: $683,609 (#1 most expensive city in metro)

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