Home Affordability for Virginia (2026)
Virginia (VA) Key Facts
Median Home Price
$380,000
Median Household Income
$80,000
Affordability Index
421
Price to Income Ratio
4.8
Max Affordable Payment (28% Rule)
$1,867
How This Calculator Works in Virginia
This home affordability calculator estimates how much house you can afford in Virginia based on your income, debts, down payment, and current interest rates. It accounts for Virginia's property tax rate and insurance costs to give you a realistic maximum home price. Enter your financial details to see whether the median-priced home in Virginia is within your reach.
Virginia Overview
Virginia has a median home price of approximately $380,000 and a median household income of $80,000, yielding a price-to-income ratio of 4.8. State income taxes in Virginia reduce take-home pay, so factor your after-tax income when budgeting for a home. Property taxes average 0.82%, which meaningfully impacts monthly housing costs.
How Virginia Compares
Virginia's price-to-income ratio of 4.8 is below the national average of roughly 5.5. Nearby Maryland has a median price of $400,000 and median income of $87,000, yielding a ratio of 4.6. Differences in property taxes and insurance costs between states further shift the true cost of homeownership.
| State | Top Rate | Notes |
|---|---|---|
| Maryland | $400,000 | Median home price is $400,000 with a median household income of approximately $87,000. The price-to-income ratio is 4.6. |
| North Carolina | $325,000 | Median home price is $325,000 with a median household income of approximately $60,000. The price-to-income ratio is 5.4. |
| West Virginia | $160,000 | Median home price is $160,000 with a median household income of approximately $48,000. The price-to-income ratio is 3.3. |
With a median home price of $380,000 and a median household income of $80,000, Virginia has a price-to-income ratio of 4.8. The national average price-to-income ratio is approximately 5.5. Virginia is more affordable than the national average.
Tips for Virginia Residents
- 1The median household income in Virginia is $80,000. Under the 28% rule, this supports a maximum monthly housing payment of about $1,867, including principal, interest, taxes, and insurance.
- 2Virginia's price-to-income ratio of 4.8 means the typical home costs 4.8 times the annual median income. This is moderate compared to the national average of roughly 5.5.
- 3State income taxes in Virginia reduce take-home pay, so factor your after-tax income when budgeting for a home.
- 4Property taxes in Virginia average 0.82%, which adds $260 per month to your housing cost on the median home. Don't overlook this when calculating affordability.
- 5Look into Virginia's first-time homebuyer assistance programs, which may include down payment grants, low-interest second mortgages, or mortgage credit certificates (MCCs) that provide a federal tax credit on mortgage interest.