Side-by-side comparison of Roanoke, VA and Norfolk, VA — cap rates, rent, prices, and investment metrics.
Cash flow: Roanoke has the edge with an estimated cap rate of 4.74% compared to Norfolk's 3.85%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $195,000 in Roanoke vs $275,000 in Norfolk, while rents come in at $1,100/mo and $1,380/mo respectively.
Growth & appreciation: Roanoke is growing faster at 0.3% annually vs Norfolk's 0.3%. Norfolk leads on home value appreciation at 2.8% per year.
Costs & risk: Property taxes are 0.84% in Roanoke vs 1.05% in Norfolk. Vacancy rates of 5.8% and 5.4% are both healthy, suggesting strong tenant demand in both markets.
Bottom line: Roanoke edges out Norfolk on most key metrics. While cap rates are moderate at 4.74%, Roanoke's overall profile is stronger. Use our free calculators to model specific deals in Roanoke or Norfolk.