How Much House Can I Afford in Virginia on $30K?
Based on Virginia's 0.82% property tax rate and $1,700/yr homeowners insurance.
Can You Afford the Median Home in Virginia?
The median home in Virginia ($400K) exceeds your $72K budget by $328K. But many areas in Virginia have homes well below the median. Check the affordable cities below for areas within your budget.
Most Affordable Cities in Virginia
No tracked cities in Virginia have a median below your $72K budget. Here are the most affordable options.
Up to 2.5% grant. First-time buyers in Virginia should explore this program to reduce upfront costs. Combined with your $72K budget, state assistance can significantly lower the cash you need to close.
Buying a Home in Virginia on $30K
In Virginia, your $30K salary buys roughly the same as the national average. With a 0.82% property tax rate and $1,700/yr insurance, your maximum affordable price is $72K, close to the $68K you would get using national averages. This means Virginia's overall housing costs are in line with most of the country.
Virginia's combination of 0.82% property taxes and $1,700/yr insurance puts it in the moderate-cost category. Your $72K budget gives you a solid starting point, though you will be looking below the $400K state median. Focus on cities and neighborhoods where your budget represents strong buying power — in many parts of Virginia, $72K buys a well-maintained home in a good school district.
Budget $6K for closing costs in Virginia (roughly 1.5% of the purchase price). Combined with your $7,193 down payment, you will need approximately $13K in cash to close. Virginia Housing DPA Grant may help offset these costs — especially since their assistance does not need to be repaid in full. Get pre-approved with a Virginia-based lender who understands local programs and can close efficiently.