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Virginia's statewide median of $395,000 masks a dramatic geographic split. Northern Virginia — Fairfax, Arlington, Alexandria — runs $700,000–900,000 for a single-family home, driven by proximity to DC and the federal contractor economy. The rest of Virginia, including Richmond, Virginia Beach, and the Shenandoah Valley, is significantly more affordable.
On the statewide median, a 20% down, 30-year purchase runs $2,539/month all-in: $2,128 P&I, $271 property tax at 0.82%, and $140 in homeowners insurance. But in Fairfax County, where the median is over $700,000, the same 20% down scenario puts PITI at $4,400+/month.
Virginia uses a split property tax system — the rate varies by jurisdiction. Fairfax County: 1.12%. Alexandria City: 1.11%. But Rockingham County in the Shenandoah Valley: 0.47%. Same state, dramatically different tax burden. If you're comparing properties across Virginia jurisdictions, run the calculator with each location's actual rate.
State-specific answers. No fluff.
On the Virginia statewide median home price of $395,000 with 20% down and a 30-year loan at current rates, the monthly P&I is roughly $2,128. Add property tax at 0.82% ($271/month) and homeowners insurance (~$140/month) and your total PITI is approximately $2,539/month. Northern Virginia buyers face significantly higher numbers.
Dramatically. Northern Virginia (Fairfax, Arlington, Loudoun, Prince William counties) runs $650,000–900,000 median for single-family homes — driven by federal government, defense contractor, and tech sector jobs. The same 20% down scenario on an $800,000 NOVA home produces PITI of roughly $5,300/month versus $2,539 on the statewide median.
Northern Virginia property tax rates vary by jurisdiction: Fairfax County 1.12%, Arlington County 1.013%, Alexandria City 1.11%, Loudoun County 1.045%, Prince William County 1.115%. These are among the highest rates in Virginia, reflecting the high assessed values and strong local school funding requirements.
Yes. Virginia Housing (formerly VHDA) offers first-time buyer mortgage programs with below-market rates, down payment and closing cost grants, and plus second mortgage programs. Income limits vary by area — Northern Virginia limits are higher (around $145,000–180,000 depending on household size) to reflect local costs. Free homebuyer education is required.
The math works for some buyers. Prince William County runs $500,000–550,000 median — $200,000 less than Fairfax — but adds 45–75 minutes to a DC commute by car or VRE. At current rates, $200,000 less in loan amount saves roughly $1,100/month in P&I. Whether that trade is worth it depends entirely on how many days you commute and how you value your time.
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