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City · 25,742 residents · Roanoke County, Virginia

Cave Spring , Virginia

In Cave Spring, a typical home is worth $325,800 and typical rent is $1,285 a month. Compared with all of Roanoke County, the typical home value is 14% higher and the share of households that own their home is 6 points lower.

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  • Typical home value

    $325,800

    14% above the county

    15% below Virginia

    • Cave Spring
    • Roanoke
    • Virginia

  • Typical rent

    $1,285a month

    5% above the county

    19% below Virginia

    • Cave Spring
    • Roanoke
    • Virginia

  • Typical household income

    $87,539a year

    5% above the county

    6% below Virginia

    • Cave Spring
    • Roanoke
    • Virginia

  • Households that own their home

    69%

    6 points below the county

    2 points above Virginia

    • Cave Spring
    • Roanoke
    • Virginia

Source: U.S. Census Bureau, Average 2020–2024

Cave Spring is in Roanoke County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Roanoke County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Cave Spring apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Vinton, the typical home value is $190,900: 41% less than in Cave Spring ($325,800).

  2. Nearby, in Bedford, the typical rent is $828: 36% less than in Cave Spring ($1,285).

  3. 69% of households in Cave Spring own their home, against 76% in Roanoke County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Cave Spring

What homes there are in Cave Spring, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Cave Spring, 6 in 10 homes are single-family detached houses; in Roanoke County, 8.

Year built

In Cave Spring, half of the homes were built before 1977; in Roanoke County, before 1978.

In Cave Spring, 12% of homes have 1 bedroom or none (studios); 68% have 3 bedrooms or more, against 73% in Roanoke County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,668 a month

Roanoke County: $1,619 a month

Without a mortgage

$566 a month

Roanoke County: $541 a month

Owners with a mortgage

62%

Roanoke County: 60%

Owning costs about the same in Cave Spring as in Roanoke County: with a mortgage, $1,668 a month; without one, $566.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Cave Spring rose 51%; in Roanoke County, it rose 43%.

The typical rent in Cave Spring rose 30% since 2015–2019, about the same as in Roanoke County (28%).

The typical household income in Cave Spring rose 35% over that time; home values changed +51% and rent +30%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureCave SpringRoanoke CountyVirginiaUnited States
Rental vacancy Unreliable estimate5.6%4.8%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimateUnreliable estimate2.1%3.4%
People per household 2.332.392.522.53
Drive alone 73%77%68%69%
Carpool 7%6%8%9%
Public transit Unreliable estimateUnreliable estimate2%3%
Walk or bike Unreliable estimate1%2%3%
Work from home 18%15%18%15%
Other means Unreliable estimate1%1%2%
Typical commute 10 to 19 minutesUnreliable estimate20 to 29 minutes20 to 29 minutes

Much as in Roanoke County, a household in Cave Spring has 2.33 people on average.

The car rules in Cave Spring: 73% of workers drive to work alone, and the typical trip takes 10 to 19 minutes.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Cave Spring?

A typical home costs more than the typical income allows

We start with a typical home in Cave Spring, worth $325,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 37% of the typical household income in Cave Spring, which is $87,539 a year. For that payment to be 28% of income, a household would need to earn about $114,294 a year.

The calculator's FHA and conventional loan limits are those of all of Roanoke County.

Your numbers

Local data
$

Starts at the typical home value in Cave Spring. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $11,403 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,667

at 7.18% · 30 years

Loan amount
$319,899
Total interest
$460,260
Paid off in
November 2056

Includes $5,502 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,043 a month

  • Tight

    $2,043 to $2,626 a month

  • Hard

    more than $2,626 a month

    Your payment · 37%

Compared with the typical household income in Cave Spring ($87,539 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,667
Principal & interest$2,167
Property tax$220
Home insurance$136
FHA mortgage insurance (MIP)$144

You need at least $11,403 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Cave Spring and Roanoke County

Cave Spring is in Roanoke County, Virginia. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Cave Spring's own numbers

Typical home value
$325,800
Typical monthly rent
$1,285
Typical yearly household income
$87,539
Households that own their home
69%
Effective property tax rate
0.81%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Roanoke County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,464
Price change over 5 years (FHFA)
+54%
Homes in a high flood-risk zone
1.5%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Roanoke County.

Everything about Roanoke County

Buying

Buying a home in Cave Spring

A typical home in Cave Spring is worth $325,800: 14% above the county and 15% below Virginia. With the typical household income in Cave Spring ($87,539 a year), a typical home costs 3.7 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Cave Spring 3.7 years
  • Roanoke 3.4 years
  • Virginia 4.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Roanoke County

According to FHFA’s house price index, home prices in Roanoke County rose 82% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Roanoke County.

Period County Virginia U.S.
Last year (2025) +4.5% +3.7% +2.9%
5 years (2020–2025) +54% +49% +47%
10 years (2015–2025) +82% +75% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Cave Spring next to Roanoke County, Virginia and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Cave Spring $325,800
  • Roanoke $286,000
  • Virginia $383,700
  • United States $332,700
Typical monthly rent
  • Cave Spring $1,285
  • Roanoke $1,224
  • Virginia $1,579
  • United States $1,413
Typical yearly household income
  • Cave Spring $87,539
  • Roanoke $83,709
  • Virginia $93,170
  • United States $80,734
See the full table
Cave Spring next to Roanoke County and Virginia
Measure Cave Spring Roanoke County Virginia U.S.
Typical home value $325,800 $286,000 $383,700 $332,700
Typical monthly rent $1,285 $1,224 $1,579 $1,413
Typical yearly household income $87,539 $83,709 $93,170 $80,734
Households that own their home 69% 76% 67% 65%
Typical yearly property tax $2,646 $2,436 $2,790 $3,119
Effective property tax rate 0.81% 0.85% 0.73% 0.94%
Renters with high rent for their income 39% 42% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Roanoke County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Cave Spring

For a typical $325,800 home in Cave Spring, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Cave Spring's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,667a month

    Least cash to close
    Down payment
    $11,403
    Cash to close
    $21,177
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $144

  • Conventional, 5% down $2,607a month

    Down payment
    $16,290
    Cash to close
    $26,064
    Rate
    7.18%
    Mortgage insurance
    PMI · $155

  • Conventional, 20% down, no PMI $2,121a month

    Down payment
    $65,160
    Cash to close
    $74,934
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,423a month

    Down payment
    $48,870
    Cash to close
    $58,644
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Cave Spring and for Roanoke County.

Property tax

Effective rate in Cave Spring

0.81%of the home’s value each year

$2,646 a year for the typical owner in Cave Spring.

  • Cave Spring 0.81%
  • Roanoke 0.85%
  • Virginia 0.73%

What Virginia publishes Local exemption or deferral for people 65 and older or with disabilities (Virginia General Assembly (Code of Virginia))

Exemptions and deadlines in Virginia

Flood risk in Roanoke County

FEMA does not publish these numbers by city: they are for all of Roanoke County.

Homes in the high-risk zone
1.5%
543
Of those, with NFIP insurance
33%
County Virginia U.S.
Homes in the high-risk zone 1.5% 1.5% 3.5%
Of those, with NFIP insurance 33% 100% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Cave Spring

Typical rent in Cave Spring is $1,285 a month: 5% above the county. In Cave Spring, 39% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Roanoke County, by unit size. To pay the 2-bedroom one ($1,464 a month) without spending more than 30% of your income, you would need to earn $28.15 an hour working full time.

HUD fair market rent for all of Roanoke County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,186 $22.81 $47,440
1 bedroom $1,250 $24.04 $50,000
2 bedrooms $1,464 $28.15 $58,560
3 bedrooms $2,022 $38.88 $80,880
4 bedrooms $2,447 $47.06 $97,880

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Cave Spring

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Cave Spring is in ZIP code 24018.

For 2 bedrooms it is $1,700: $236 more than the fair market rent for Roanoke County ($1,464).

  • 24018 $1,700$2,350

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Cave Spring when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Cave Spring

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Roanoke County. The nearest ones are below; many serve by phone or online.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Cave Spring

No down payment, repair or rent-help program on our list is for Cave Spring or Roanoke County. The ones below are statewide in Virginia: they work in Cave Spring the same as in the rest of the state.

Which programs do I qualify for? All programs in Virginia

  • Down Payment Assistance Grant

    Statewide in Virginia

    Virginia state agency down payment grant that you do not repay; for first-time buyers, or any buyer in economic opportunity zones, with a Virginia Housing mortgage. Offered by Virginia Housing (Virginia Housing Development Authority).

    Grant

    See the program Official page

  • Virginia Housing Plus Second Mortgage

    Statewide in Virginia

    Virginia Housing 30-year fixed-rate second mortgage of up to 5% of the price for the down payment (and part of the closing costs with a credit score of 680 or higher); for first-time buyers and for people who have owned a home before. Offered by Virginia Housing (Virginia Housing Development Authority).

    Type not stated

    See the program Official page

  • Closing Cost Assistance Grant

    Statewide in Virginia

    Virginia Housing grant that you do not repay, of up to 2% of the price, for the closing costs of buyers with a Virginia Housing RD (Rural Development) or VA loan. Offered by Virginia Housing (Virginia Housing Development Authority).

    Grant

    See the program Official page

Housing counselors near Cave Spring

The HUD-approved agencies closest to the center of Cave Spring, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Southeast Rural Community Assistance Project

    347 Campbell Ave SW, Roanoke · 5 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 10 more
    (540) 345-1184

  • Total Action for Progress in Roanoke Va

    302 2nd St SW, Roanoke · 5 miles away

    • Mortgage delinquency and default
    • Pre-purchase counseling
    • and 1 more
    (540) 777-4673

  • Commonwealth Catholic Charities

    2131 Valley View Blvd NW, Roanoke · 6 miles away · Spanish

    Also serves in Arabic, American Sign Language (ASL), Creole, Farsi, and 5 more languages.

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 11 more
    (804) 285-5986

All counseling agencies in Virginia

Help in Spanish near Cave Spring

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Cave Spring

HUD lists no housing authority with an office in Roanoke County. One in a neighboring county or the state’s may serve the area.

All housing agencies in Virginia Source: HUD

Cities

Other cities in Roanoke County

These cities are also in Roanoke County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Roanoke County Housing in Virginia

Nearby cities

The cities closest to Cave Spring, with the typical home value.

Neighboring counties

If Roanoke County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Cave Spring.

All guides
A mother and her daughters smile together on a mountain trail with a snowy peak behind them.

Questions

Housing questions about Cave Spring

Short answers with the numbers for Cave Spring and all of Roanoke County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Cave Spring?

The typical home value in Cave Spring is $325,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Roanoke County it is $286,000.

How much does it cost to rent in Cave Spring?

Typical rent in Cave Spring is $1,285 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Roanoke County is $1,464.

What is the FHA loan limit in Cave Spring?

Cave Spring uses the FHA limit for all of Roanoke County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Cave Spring?

The typical homeowner in Cave Spring pays $2,646 a year, according to the U.S. Census Bureau. That is 0.81% of the home’s value; in Roanoke County, the rate is 0.85%.

Where can I find free help to buy or rent in Cave Spring?

We found no HUD-approved counseling agencies with an office in Roanoke County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).