How Much House Can I Afford in Virginia on $80K?
Based on Virginia's 0.82% property tax rate and $1,700/yr homeowners insurance.
Can You Afford the Median Home in Virginia?
The median home in Virginia ($400K) exceeds your $271K budget by $129K. But many areas in Virginia have homes well below the median. Check the affordable cities below for areas within your budget.
Affordable Cities in Virginia on $80K
These Virginia cities have median home prices within your $271K budget.
Up to 2.5% grant. First-time buyers in Virginia should explore this program to reduce upfront costs. Combined with your $271K budget, state assistance can significantly lower the cash you need to close.
Buying a Home in Virginia on $80K
In Virginia, your $80K salary stretches further than the national average. Because Virginia's 0.82% property tax rate is below the national average of 1.1%, your maximum affordable price is $271K — that is $11K more than the $260K you would get using national averages. Lower property taxes mean a smaller slice of your monthly payment goes to the county, leaving more room for the mortgage itself.
Virginia's combination of 0.82% property taxes and $1,700/yr insurance puts it in the moderate-cost category. Your $271K budget gives you a solid starting point, though you will be looking below the $400K state median. Focus on cities and neighborhoods where your budget represents strong buying power — in many parts of Virginia, $271K buys a well-maintained home in a good school district.
Budget $6K for closing costs in Virginia (roughly 1.5% of the purchase price). Combined with your $27,072 down payment, you will need approximately $33K in cash to close. Virginia Housing DPA Grant may help offset these costs — especially since their assistance does not need to be repaid in full. Get pre-approved with a Virginia-based lender who understands local programs and can close efficiently.