Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Florida and Virginia. Updated for 2026.
Metric
Florida
Virginia
Median Home Price
$395K
$400K
Property Tax Rate
0.86%
0.82%
Avg Closing Costs
$7K
$6K
Closing Cost %
1.8%
1.5%
Transfer Tax
0.7%
0.25%
Homeowners Insurance
$4,200/yr
$1,700/yr
First-Time Buyer Program
Florida Hometown Heroes
Up to 5% as 0% deferred loan
Virginia Housing DPA Grant
Up to 2.5% grant
Verdict
Virginia wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Florida has a lower total cost when combining home price, closing costs, and insurance. Both states offer first-time buyer programs — explore the state pages for full details.