701 3rd Street
701 3rd St SW,
Roanoke, VA 24016
$1,249 - $1,299 Plus Fees
1-2 Beds | 12 Month Lease
Old Southwest
Roanoke, VA
Old Southwest - Roanoke, VA Area Guide
Situated along the curve of Roanoke River and Interstate 220, Old Southwest Roanoke lies just a few blocks south of the downtown area. This area consists of historic homes that locals can visit during the annual Parlor Tour of Homes. Neighbors regularly gather at the Alexander-Gish House, which dates back to the 1830s, for classes and workshops. Residents don't just tour historical homes. Renting an apartment near Highland Park allows easy access to this popular park's features such as a walking and running trail. After exercising, locals then spend a leisurely afternoon at the Wildflour Restaurant and bakery for some comfort food and conversation. For a little more action, residents can walk or drive one mile to the north to the downtown area that has a number of eateries, including Blue 5 and Martin's Downtown Bar and Grill. The Science Museum of Western Virginia and the Taubman Museum of Art provide intellectual and artistic stimulation.
Rent Trends
As of May 2026, the average apartment rent in Old Southwest is $695 for a studio, $698 for one bedroom, $839 for two bedrooms, and $855 for three bedrooms. Apartment rent in Old Southwest has increased by 1.4% in the past year.
-
Studio
-
575 sq ft
Average Sq Ft
-
$695/month
Average Rent
-
1 BR
-
475 sq ft
Average Sq Ft
-
$698/month
Average Rent
-
2 BR
-
761 sq ft
Average Sq Ft
-
$839/month
Average Rent
-
3 BR
-
1,220 sq ft
Average Sq Ft
-
$855/month
Average Rent
Getting Around
Explore how walkable, bikeable, drivable, and transit-friendly Old Southwest - Roanoke, VA is for everyday living.
Moderately Walkable
Walkability
70
/ 100
Some Public Transit
Transit
40
/ 100
Very Drivable
Drivability
80
/ 100
Moderately Bikeable
Bikeability
70
/ 100
Daily Essentials
Old Southwest - Roanoke, VA offers all daily essentials, but they’re limited to a few main areas.
Supermarket Within a 5 Minute Walk
Groceries
90
/ 100
Fair Restaurant Variety Nearby
Restaurants
50
/ 100
Limited Café Variety Nearby
Cafes
30
/ 100
Fair Variety of Shops Nearby
Shopping
50
/ 100
Local Vibe
Get a sense of what it’s like to live in Old Southwest - Roanoke, VA from everyday activity to noise and nightlife.
Vibrant Atmosphere at Times
Vibrancy
40
/ 100
Fair Nightlife Variety Nearby
Nightlife
40
/ 100
Moderately Noisy
Quiet Score
40
/ 100
Scores provided by
Points of Interest
Shopping Centers
Parks and Recreation
- Mill Mountain Park and Discovery Center
- Science Museum of Western Virginia
- Mill Mountain Zoo
- Wolf Creek Greenway
Commuter Rail
Airports
- Roanoke/Blacksburg Regional (Woodrum Field)
Top Apartments in Old Southwest
Houses for Rent in Old Southwest
Property Management Companies
Greystar
-
3,501
Communities
-
963,127
Units
-
893
Cities
Willow Bridge
-
708
Communities
-
195,986
Units
-
336
Cities
RPM
-
649
Communities
-
179,616
Units
-
259
Cities
AMC
-
607
Communities
-
121,784
Units
-
242
Cities
Avenue5 Residential
-
568
Communities
-
126,686
Units
-
219
Cities
Cushman & Wakefield
-
451
Communities
-
107,334
Units
-
225
Cities
Search Nearby Rentals
Nearby City Rentals
Nearby Neighborhood Rentals
Nearby House Rentals
Nearby Neighborhood Guides
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.