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Virginia

Learn about the people, housing, costs and businesses across Virginia

Median Home$437,609
Median Rent$1,699/month
Population8,705,170
Leading IndustriesHealthcare · Arts, Food & Hospitality · Professional Services16% healthcare
Home Value Growth⬆⬆+16.9% over 2 years
Young Adults30% of residentsslightly above average
Homeowners67% of occupied units
NotableVeteran Community10% of residents · top 2% nationally
NotableHigh Incomes$107k/year · top 15% nationally
Virginia

Frequently Asked Questions

What are today's mortgage rates in Virginia?

As of today, the 30-year fixed mortgage rate for Virginia is approximately 6.814% (6.865% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Virginia?

The median home value in Virginia is $438k. The median monthly rent is $1,699. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Virginia?

Home values in Virginia have increased 16.9% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Virginia?

Based on a typical all-in ownership cost of $1,747/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $75k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Virginia is $107k/year.

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What industries drive the economy in Virginia?

The largest employment sectors in Virginia are public administration (23%) and healthcare (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.