Home Insurance in Roanoke city, Virginia
Homes in Roanoke city carry a median value of $190,500 - 50% lower than the Virginia median.
The typical home in Roanoke city was built around 1958. About 53% of homes were built before 1960, about 34 points above Virginia's 19%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
The housing stock in Roanoke city is 65% single-family homes, 22% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 61% of owner-occupied homes in Roanoke city have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 52% of occupied homes in Roanoke city are owner-occupied.
47% of homes in Roanoke city are primarily heated with electricity.
The top hazards for Roanoke city, per FEMA's National Risk Index, are strong wind (Relatively High), inland flooding (Relatively Moderate) and earthquake (Relatively Low). Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
Roanoke city had 356 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
The statewide average premium for a standard HO-3 homeowners policy in Virginia is $1,537 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $190,500 |
|---|---|
| Median year built | 1958 |
| Owner-occupied share | 52% |
| Share of owner-occupied homes with a mortgage | 61% |
| Top hazards (FEMA National Risk Index) | Strong Wind (Relatively High), Inland Flooding (Relatively Moderate), Earthquake (Relatively Low) |
| Active NFIP flood policies (county) | 356 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)