Cost of Ownership · Virginia
The true cost of owning a home in Virginia
For a median $383,700 home in Virginia, here is the full monthly cost — not just the mortgage. Built from public data: the state's median home value and effective property-tax rate, its average homeowners premium, and the current 30-year rate. This is a representative example, not a quote.
Lender-approved payment
$2,688/mo
PITI + PMI
True monthly cost
$3,008/mo
everything, incl. upkeep
The gap
+$320/mo
what approval leaves out
Effective property-tax rate
0.73%
Avg. homeowners premium
$1,332/yr
NFIP flood claims on record
50,566
Closing costs in Virginia
Median closing costs and lender origination charges on real home-purchase loans in Virginia, from public CFPB HMDA data. Cells with fewer than 25 loans aren't shown.
Median total closing costs
$6,872
Typically $4,709–$11,038
Median origination charges
$3,133
Typically $1,449–$5,735
| Loan size | p25 | Median | p75 | Loans |
|---|---|---|---|---|
| All | $4,709 | $6,872 | $11,038 | 88,047 |
| All | $4,554 | $7,114 | $11,237 | 86,104 |
| < $250k | $3,874 | $5,189 | $7,632 | 17,508 |
| < $250k | $3,724 | $5,392 | $7,630 | 21,851 |
| $250k–$500k | $4,718 | $7,438 | $11,299 | 44,330 |
| $250k–$500k | $4,669 | $7,960 | $11,826 | 42,648 |
| $500k–$750k | $4,993 | $8,781 | $14,649 | 15,092 |
| $500k–$750k | $5,218 | $7,362 | $13,949 | 16,981 |
| > $750k | $6,129 | $7,900 | $14,989 | 9,228 |
| > $750k | $5,858 | $8,572 | $17,495 | 6,513 |
Compare your own Loan Estimate with the Loan Estimate Decoder, or see every state in the Fee & Rate Index.
Common questions about buying a home in Virginia
- What are the median closing costs in Virginia?
- Median total closing costs — lender and third-party charges — on a home-purchase loan in Virginia are about $6,872, from public CFPB HMDA data. Cells with fewer than 25 loans are suppressed.
- What is the effective property-tax rate in Virginia?
- The effective property-tax rate in Virginia is about 0.73%, from the Census American Community Survey (median real estate taxes divided by median home value).
- What does a median home cost to own each month in Virginia?
- A median $383,700 home in Virginia costs about $3,008 a month to own — principal, interest, property tax, insurance, PMI, and a maintenance reserve — versus a lender-approved payment of about $2,688. Every figure is from public data.
These figures use Virginia's median home value and a 10% down payment as a representative example. Your price, rate, and county rate will differ — run your own numbers in the True Cost tool, see how Virginia ranks on property tax and insurance, or browse every state.