Alexandria vs Charlottesville: Housing Costs in Virginia
Side-by-side comparison of home prices, mortgage payments, and housing costs between Alexandria and Charlottesville, Virginia. Using Virginia's 0.82% property tax rate and $1,700/year insurance. Updated for 2026.
Metric
Alexandria
Charlottesville
Median Home Price
$650K
$395K
Population
159,467
46,553
Average Rent
$2,350/mo
$1,520/mo
Est. Monthly Mortgage (P&I)
$3,698/mo
$2,247/mo
Est. Monthly Property Tax
$444/mo
$270/mo
Est. Monthly Insurance
$142/mo
$142/mo
Est. Total PITI
$4,527/mo
$2,807/mo
Price-to-Rent Ratio
23.0
21.7
Verdict
Charlottesville is significantly more affordable than Alexandria, with homes priced 39% lower on average. That translates to $1,720/month in savings on your total housing payment. For budget-conscious buyers in Virginia, Charlottesville offers a much more accessible path to homeownership.
Monthly Payment Comparison
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Virginia's 0.82% property tax rate.
Alexandria
Home Price$650,000
Down Payment (10%)$65,000
Loan Amount$585,000
Monthly P&I$3,698
Monthly Property Tax$444
Monthly Insurance$142
Monthly PMI$244
Total PITI$4,527/mo
Annual property tax: $5,330
Charlottesville
Home Price$395,000
Down Payment (10%)$39,500
Loan Amount$355,500
Monthly P&I$2,247
Monthly Property Tax$270
Monthly Insurance$142
Monthly PMI$148
Total PITI$2,807/mo
Annual property tax: $3,239
Buying in Charlottesville saves you approximately $1,720/month ($20,640/year) compared to Alexandria, based on median home prices with identical loan terms.
Which City Is Better For...
First-Time Buyers
Charlottesville is the better choice for first-time buyers, with a median price of $395K versus $650K in Alexandria. That's $255K less to save for a down payment. You'd need roughly $14K for an FHA 3.5% down payment in Charlottesville, compared to $23K in Alexandria. Virginia offers the Virginia Housing DPA Grant program (Up to 2.5% grant) which applies in both cities.
Real Estate Investment
Charlottesville has the better price-to-rent ratio at 21.7x versus 23.0x in Alexandria. A lower ratio generally signals better rental income relative to purchase price. Average rent in Charlottesville is $1,520/month on a $395K median home, making it a stronger candidate for buy-and-rent investors.
Families
Alexandria (pop. 159,467) offers more amenities, schools, and services typical of a larger city, while Charlottesville (pop. 46,553) may offer a quieter, more community-oriented lifestyle. Families on a budget may prefer Charlottesville, where lower housing costs free up more income for childcare, education, and savings.