2026 data · 0.80% property tax · Median home $348,300
Virginia Mortgage Calculator
A median-priced home in Virginia ($348,300) costs roughly $2,231 per month all-in (PITI), assuming 20% down and a 30-year fixed at 7.0%. Virginia's effective property tax rate is 0.80% — close to the US average of about 1.0%.
Virginia median-home monthly payment
$2,231/mo
P&I $1,854 · Tax $232 · Insurance $145
@ $348,300 price, 20% down, 30-yr fixed at 7.0%
For a custom calculation with your specific numbers (different down payment, rate, term, or home price), use the main mortgage calculator — it includes a full amortization schedule.
Monthly payments at common home prices in Virginia
| Home price | 20% down | P&I | Prop tax | Insurance | Total PITI/mo |
|---|---|---|---|---|---|
| $200,000 | $40,000 | $1,064 | $133 | $83 | $1,281 |
| $300,000 | $60,000 | $1,597 | $200 | $125 | $1,922 |
| $348,300 (state median) | $69,660 | $1,854 | $232 | $145 | $2,231 |
| $400,000 | $80,000 | $2,129 | $267 | $167 | $2,562 |
| $500,000 | $100,000 | $2,661 | $333 | $208 | $3,203 |
| $750,000 | $150,000 | $3,992 | $500 | $313 | $4,804 |
Calculations use Virginia's 0.80% effective property tax rate, estimated homeowners insurance at 0.50%/year of home value, 30-year fixed at 7.0%, no PMI (20% down). Closing costs not included.
Virginia property tax
Effective rate
0.80%
Median home value
$348,300
Median property tax
$2,780/yr
Virginia has below-average property tax rates statewide, but rates vary widely by city/county. Real estate tax relief programs available in most localities for seniors/disabled.
See our property tax calculator for a state-by-state property tax breakdown, and our Virginia paycheck calculator to estimate take-home pay against this monthly housing cost.
Virginia vs neighboring states
| State | Property tax rate | Median home | Median tax/yr | |
|---|---|---|---|---|
| Virginia (this page) | 0.80% | $348,300 | $2,780 | |
| Maryland | 0.99% | $371,100 | $3,680 | Maryland mortgage → |
| District of Columbia | 0.56% | $687,500 | $3,830 | District of Columbia mortgage → |
| West Virginia | 0.57% | $134,200 | $768 | West Virginia mortgage → |
| Kentucky | 0.80% | $177,400 | $1,382 | Kentucky mortgage → |
FAQs about Virginia mortgages
What is the property tax rate in Virginia?
Virginia's effective property tax rate is 0.80%, meaning the average homeowner pays roughly 0.80% of their home's value in property tax annually. On a $348,300 home (the state median), that's about $2,780 per year, or $232 per month added to your mortgage payment.
What is the average monthly mortgage payment in Virginia?
For a home at Virginia's median value of $348,300, assuming 20% down, a 30-year fixed mortgage at 7.0%, and Virginia's 0.80% property tax + estimated insurance, the typical monthly PITI payment is approximately $2,231. This includes $1,854 principal & interest, $232 property tax, and $145 homeowners insurance.
How much income do I need to buy a house in Virginia?
Using the standard 28% front-end DTI rule, you'd need annual income of approximately $95,614 to comfortably afford Virginia's median-priced home. Lenders typically allow up to 43% total DTI (including all debts), which corresponds to about $62,260 annual income at the maximum end. Your specific qualification depends on credit score, down payment, debts, and lender requirements.
Is Virginia a good state to buy a house?
Virginia's combination of 0.80% property tax (near the national average of ~1.0%) and median home value of $348,300 place it in the mid-range of state housing markets nationally. Virginia has below-average property tax rates statewide, but rates vary widely by city/county.
How does Virginia property tax compare to neighboring states?
Virginia's 0.80% rate compares to: Maryland at 0.99%, District of Columbia at 0.56%, West Virginia at 0.57%, Kentucky at 0.80%. Property taxes can differ substantially between bordering states — moving 30 miles across a state line can change your annual tax bill by thousands.
Does Virginia have a homestead exemption?
Virginia offers various property tax relief programs. Virginia has below-average property tax rates statewide, but rates vary widely by city/county. Real estate tax relief programs available in most localities for seniors/disabled. Check with your county assessor for primary-residence exemptions and senior/disabled programs that may reduce your annual property tax bill.
What's included in PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four standard components of a mortgage payment. For your Virginia mortgage, the breakdown on a median-priced home would be: Principal & Interest $1,854, Property Tax $232, Homeowners Insurance $145. Add PMI if your down payment is under 20%, and HOA fees if your home is in a community with one.