Calculate your monthly mortgage payment in Virginia. Pre-filled with Virginia's typical home value of $414,700 (Zillow Home Value Index, August 2026) and an effective property tax rate of 0.71% (Census ACS 2024 1-year, median taxes ÷ median home value).
Est. Monthly Payment
$2,632
Principal & Interest
$2,214
Property Tax / mo
$245
Total Interest Paid
$465,243
| Home Price | $414,700 | Typical home value in Virginia — Zillow Home Value Index, August 2026 |
| Down Payment | 20% ($82,940) | Assumption — no sourced state average |
| Loan Amount | $331,760 | Home price minus down payment |
| Interest Rate | 7.03% | Freddie Mac PMMS national average, week of 2026-09-24 — not a Virginia rate |
| Loan Term | 30 years | Assumption |
| Property Tax | 0.71% / year | Virginia effective rate — Census ACS 2024 1-year, median taxes ÷ median home value |
| Home Insurance | 0.5% / year | Assumption — not a sourced premium |
Programs named for Virginia: VHDA Down Payment Assistance Grant, Loan Combo, Community Heroes. This list has no recorded source or date and may be out of date — confirm current programs and eligibility with the Virginia housing finance agency before you rely on it.
Cost of living: Moderate (index 99.0, MERIC (C2ER index), Second Quarter 2026) · Population: 8,880,107 (Census Bureau estimate, July 1, 2025)
Virginia has a typical home value of about $414,700 (Zillow Home Value Index, August 2026), above the U.S. typical value of $368,700. With an assumed 20% down payment of $82,940, a buyer would finance $331,760 over 30 years. At the national 7.03% fixed rate, the monthly principal and interest payment comes to $2,214.
The effective property tax rate in Virginia — median real estate taxes paid divided by median home value — is 0.71% per year (Census ACS 2024 1-year, median taxes ÷ median home value), against 0.89% for the U.S. Combined with an assumed $173 a month for homeowners insurance, the estimated all-in monthly housing cost is about $2,632.
Using the 28% housing cost guideline, you would need a gross annual income of approximately $112,796 to qualify comfortably. The median household income in Virginia is $92,090 (Census ACS 2024 1-year).
