FiscalCalc

Home Affordability Calculator in Virginia

In Virginia, the median home costs $390K and the median household income is $80K/year. Find out how much house you can afford based on your income, debts, and down payment.

$390K
Median Home Price
$80K/yr
Median Income
12%
Avg Down Payment
107 / 100
Cost of Living
$

Before taxes — use your total household income

$

Car loans, student loans, credit cards, etc. — not utilities

$
%

How Much House Can You Afford in Virginia?

Lenders typically use the 28/36 rule: your monthly housing payment should not exceed 28% of gross monthly income, and total debt payments should stay under 36%. With Virginia's median income of $80,000/year ($6,667/month), that means a maximum housing payment of roughly $1,867/month.

At 6.8% over 30 years with a 12% down payment ($46,800), that monthly budget supports a purchase price of approximately $370,500–$390,000. The median home price in Virginia is $390,000, which means housing is near the national average.

Frequently Asked Questions — Home Affordability in Virginia

How much house can I afford in Virginia?+
With the median household income of $80,000 in Virginia, the 28% housing rule allows a maximum monthly payment of $1,867. At 6.8% over 30 years with 12% down, that supports a purchase price of roughly $333K. The median home in Virginia is $390K.
What is the median home price in Virginia?+
The median home price in Virginia is $390,000 (2026). Prices vary significantly by metro — urban areas typically run 20–50% above the state median, while rural areas may be well below. The cost of living index for Virginia is 107 (100 = national average).
What income do I need to afford the median home in Virginia?+
To afford the $390K median home in Virginia with a 12% down payment ($46,800) and 6.8% rate (30 years), you need a gross annual income of at least $90,000 — following the 28% rule. The state median household income is $80,000.
What debt-to-income ratio do lenders require in Virginia?+
Lenders in Virginia (and nationwide) generally require a total DTI below 43% for conventional loans, with 36% preferred. FHA loans allow up to 50% DTI in some cases. This means your total monthly debt payments — mortgage, car loan, student loans, and credit cards — should not exceed 43% of your gross monthly income ($2,867 on the Virginia median income).
How does Virginia's cost of living affect home affordability?+
Virginia has a cost of living index of 107 (100 = national average). Virginia's cost of living is near the national average, so total housing affordability is similar to most other states.

Data Sources & Methodology

Median home prices from the National Association of Realtors (NAR). Median household income from U.S. Census Bureau ACS. Mortgage rates from Freddie Mac PMMS. Affordability calculations use the 28/36 DTI rule per Fannie Mae guidelines. Last updated 2026.

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Home Affordability by State

Compare home affordability across all 50 states using local income and price data.

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