How Much House Can You Afford in Virginia?

Virginia property tax rate: 0.82%. Calculate your maximum affordable home price with Virginia-specific rates.

You can afford a home up to

$280,989

That's a 2-bedroom home

Based on your $75,000 income with 20% down

$281K

Your $280,989 budget buys

MiamiStudio apartmentNashville2-bedroom condo/townhomeRaleigh3-bedroom homeCharlotte3-bedroom homeTampa3-bedroom homeNew York CityStudio in Upper Manhattan/BronxDenver1-bedroom condoSalt Lake City2-bedroom condo/townhomePortland1-bedroom condoAustin2-bedroom condo/townhomePhoenix2-bedroom condo/townhomeMinneapolis3-bedroom homeChicago2-bedroom condoSan FranciscoNothing yetLos AngelesNothing yetSeattleNothing yet
28%Recommended
$
%
%

Monthly payment breakdown

$1,750/mo

P&I$1,458
Tax$192
Insurance$100
Calculate your mortgage payment on $280,989Should you rent or buy at this price?

Home price

$280,989

Down payment

$56,198

Loan amount

$224,791

No PMI

Waived (20%+ down)

This is an estimate using Virginia's average property tax rate of 0.82%. Actual rates vary by county. Consult a local lender for a pre-approval.

How it works

This calculator uses the 28/36 rule — a widely used guideline for mortgage affordability. Your total housing costs (mortgage, taxes, insurance, PMI, HOA) should not exceed your chosen DTI ratio of gross monthly income.

The calculator works backwards from your income to find the maximum home price that keeps monthly costs within your DTI limit. It uses the standard amortization formula and Virginia's average property tax rate of 0.82%.

Virginia housing quick facts

Average property tax rate 0.82%
Monthly property tax on $400K home $273
Affordable home at $100K income (28% DTI) $380,328
Monthly payment at $100K income $2,333/mo

FAQ

How much house can I afford in Virginia?

On a $100,000 income with 20% down at 6.75% interest and Virginia's 0.82% property tax rate, you can afford approximately $380,328 using the recommended 28% DTI ratio. Your monthly payment would be about $2,333.

What is the property tax rate in Virginia?

The average effective property tax rate in Virginia is 0.82%. On a $400,000 home, that's approximately $273/month in property taxes. Actual rates vary by county and municipality.

Is Virginia expensive for homebuyers?

Virginia has moderate property taxes at 0.82%, near the national average. On a $100,000 income, you can afford about $380,328.

What is the 28/36 rule?

The 28/36 rule says your total housing costs should not exceed 28% of gross monthly income (front-end DTI), and total debt payments should not exceed 36% (back-end DTI). This calculator lets you adjust the DTI ratio from 20% to 40% to find your comfort level.

Related tools