Virginia housing costs at a glance
| Virginia | |
|---|---|
| Median home value (Zillow) | $418,000 |
| Average effective property tax | 0.75% |
| Typical rate for a new buyer (calculator default) | 0.85% |
| Average homeowners insurance ($300k dwelling) | $1,656 a year |
| 2026 conforming loan limit (one unit) | $832,750 in most of the state; higher in Northern Virginia (Washington, DC area) – check the FHFA table for your county |
Example: median-priced home
Virginia home for $418,000, 20% down, 6.5% 30-year fixed: principal and interest $2,114 + property tax $296 + insurance $138 = about $2,548 a month. Enter your own rate quote and the actual tax rate of the property for a precise figure.
Virginia property tax
In Virginia, counties and independent cities set the real estate tax rate and many reassess every year. The average effective rate is about 0.75%; in Northern Virginia rates are around 1% of assessed value (Fairfax County about 1.1%), while many rural counties charge well under 0.7%. Virginia also taxes cars and other personal property every year, which is a separate bill from your house.
Virginia closing costs
- Recordation tax: $0.25 per $100 (0.25%) to the state, plus a local tax of up to a third of that, on both the deed and the mortgage; paid by the buyer.
- Grantor tax: $0.50 per $500 of the price (0.1%), paid by the seller, plus a regional fee in Northern Virginia and Hampton Roads.
- Insurance: about $1,660 a year on average for $300,000 of dwelling coverage.
Other states
See also the Virginia paycheck calculator and mortgage costs in other states.
Frequently asked questions
What is the property tax rate in Virginia?
About 0.75% of home value on average; about 1% to 1.1% in Northern Virginia and much lower in many rural counties.
What is the monthly payment on a median-priced Virginia home?
On a $418,000 home with 20% down at 6.5%, principal and interest are about $2,114; with property tax and insurance the total is about $2,550 a month.
Who pays the recordation tax in Virginia?
The buyer, on the deed and on the new mortgage. The seller pays the smaller grantor tax.
Does Virginia tax cars?
Yes. Cities and counties levy an annual personal property tax on vehicles, separate from real estate tax.
For information only; not a loan offer. Property tax, insurance and closing costs depend on the specific property and lender.
Sources
- Virginia Tax – real estate and recordation taxes
- FHFA – 2026 conforming loan limits
- U.S. Census Bureau ACS 2024 – real estate taxes (via NAHB / Construction Coverage)
- Zillow Home Value Index
- Insurify – home insurance by state
Rules checked: October 2026