North Carolina vs Virginia: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between North Carolina and Virginia. Updated for 2026.
Metric
North Carolina
Virginia
Median Home Price
$340K
$400K
Property Tax Rate
0.78%
0.82%
Avg Closing Costs
$5K
$6K
Closing Cost %
1.4%
1.5%
Transfer Tax
0.2%
0.25%
Homeowners Insurance
$2,300/yr
$1,700/yr
First-Time Buyer Program
NC Home Advantage Mortgage
Up to 5% DPA
Virginia Housing DPA Grant
Up to 2.5% grant
Verdict
North Carolina wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $340K and lower overall costs, North Carolina offers meaningful savings compared to Virginia. Both states offer first-time buyer programs — explore the state pages for full details.