The story of this market
The typical home in ZIP 24018 sells for about $485,000, or $195 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 29 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,285 a month.
ZIP 24018 — Cave Spring (CDP)
The 24018 housing market remains tight with low inventory and steady demand, keeping prices on a moderate upward trajectory. Buyers face a competitive environment, though the pace of appreciation has stabilized compared to the rapid growth of previous years. The area's strong school system and suburban appeal continue to drive interest from family buyers.
This ZIP code is ideal for families and professionals seeking a suburban lifestyle with access to quality schools and regional amenities. It appeals to those who want a balance between proximity to Roanoke's employment centers and a quieter residential environment.
Median prices moved up 2.1% year over year.
Homes spend a median of 29 days on market with 1.3 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 99.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.6% · poverty 5.3% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 24018, Roanoke County VA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area generally experiences lower crime rates compared to the urban core of Roanoke, with property crime being the primary concern. Local trends remain stable, reflecting a suburban safety profile.
Schools serving the 24018 ZIP code are primarily part of the Roanoke County Public Schools system, which is generally well-regarded for its academic performance and extracurricular offerings.
The region faces moderate risks from seasonal storms and occasional flooding in low-lying areas near creeks, though wildfire risk is generally low. Insurance premiums are stable but reflect regional weather patterns.
Economic momentum is driven by the healthcare and education sectors in the broader Roanoke Valley, with steady residential development in the Cave Spring area. Infrastructure improvements focus on maintaining connectivity to the regional employment hubs.
Property taxes are assessed by Roanoke County based on fair market value, with rates set annually by the Board of Supervisors. There are no special district taxes like MUDs or PIDs commonly found in other states, though standard county and school district levies apply.
Residents primarily commute by car, with easy access to US-220 and I-581 providing direct routes to downtown Roanoke and the medical centers. Public transit options are limited, making personal vehicle ownership essential for most.
The area features proximity to the Blue Ridge Parkway, numerous local parks like Cave Spring Park, and access to shopping centers along the Electric Road corridor. Golfing and outdoor trail access are significant local amenities.
The rental market is characterized by low vacancy rates and consistent demand from professionals and families. Short-term rentals are present but secondary to long-term residential leasing.
The economy is anchored by major healthcare systems like Carilion Clinic and educational institutions, providing a stable employment base. The area serves as a residential hub for the broader Roanoke Valley workforce.
The area is served by a network of arterial roads connecting to I-581 and US-220, facilitating regional travel. Public transit is limited to bus routes operated by Valley Metro.
Development is focused on the revitalization of existing commercial corridors and moderate residential infill projects.
Roanoke County assesses property at 100% of fair market value, with reassessments conducted periodically to reflect current market conditions.
Parcels are subject to Roanoke County general and school district taxes, with no special utility or MUD districts.
Property insurance remains stable, with standard coverage for wind and storm damage typical of the region.
The state continues to see moderate net domestic migration, with growth concentrated in suburban areas like Roanoke County.
Virginia is a non-judicial foreclosure state, allowing for relatively efficient processing of defaults under the deed of trust.
Virginia is a 'caveat emptor' state, though sellers are required to provide a residential property disclosure statement regarding the condition of the property.
Data retrieved from Census Reporter and data.census.gov for ZCTA 24018.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Splash Valley4.410 mi
- Launching Pad Trampoline Park & Family Fun Center4.35.2 mi
- Sky Zone Trampoline Park4.19.1 mi
- Green Ridge Recreation Center4.410 mi
- Chuck E. Cheese4.23.4 mi
- Salem Civic Center4.26.1 mi
- Berglund Center47.8 mi
- Golden Corral Buffet & Grill4.49.2 mi
- Taubman Museum of Art4.77.3 mi
- Kirk Family YMCA4.76.7 mi
- Mill Mountain Star4.86.6 mi
- Explore Park4.710.3 mi
- Dixie Caverns4.58.8 mi
- Mill Mountain Zoo4.26.3 mi
- Virginia Museum of Transportation4.77 mi
- Virginia Museum of Transportation4.77 mi
- Black Dog Salvage - Main Showroom4.76.1 mi
- Taubman Museum of Art4.77.3 mi
- Booker T. Washington National Monument4.717.3 mi
- Roanoke Pinball Museum4.87.2 mi
- Explore Park4.710.3 mi
- Green Hill Park4.76.8 mi
- Elmwood Park4.67.1 mi
- Wasena Park4.56.2 mi
- Bottom Creek Gorge Preserve4.69.4 mi
- Ballyhack Golf Club4.88 mi
- Blue Hills Golf Club4.210.7 mi
- Hidden Valley Country Club4.54.6 mi
- Hunting Hills Country Club4.33.3 mi
- Brookside Par 3 Golf Course4.410.4 mi
- Valley View Mall4.28.3 mi
- Tanglewood Mall3.83.7 mi
- T.J. Maxx & HomeGoods4.33.6 mi
- The Fresh Market4.45.7 mi
- Ross Dress for Less4.29.1 mi
- Roanoke-Blacksburg Airport4.29.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Community park with recreational facilities.
Provides extensive hiking and scenic driving access.
Major regional retail and dining hub.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.