Massachusetts vs Virginia: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Massachusetts and Virginia. Updated for 2026.
Metric
Massachusetts
Virginia
Median Home Price
$595K
$400K
Property Tax Rate
1.2%
0.82%
Avg Closing Costs
$10K
$6K
Closing Cost %
1.6%
1.5%
Transfer Tax
0.456%
0.25%
Homeowners Insurance
$2,200/yr
$1,700/yr
First-Time Buyer Program
MassHousing DPA
Up to $50,000 DPA loan
Virginia Housing DPA Grant
Up to 2.5% grant
Verdict
Virginia wins 6 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $400K and lower overall costs, Virginia offers meaningful savings compared to Massachusetts. Both states offer first-time buyer programs — explore the state pages for full details.