Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Maryland and Virginia. Updated for 2026.
Metric
Maryland
Virginia
Median Home Price
$420K
$400K
Property Tax Rate
1.09%
0.82%
Avg Closing Costs
$11K
$6K
Closing Cost %
2.5%
1.5%
Transfer Tax
1.5%
0.25%
Homeowners Insurance
$1,700/yr
$1,700/yr
First-Time Buyer Program
MD Mortgage Program
Up to $25,000 DPA
Virginia Housing DPA Grant
Up to 2.5% grant
Verdict
Virginia wins 5 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 Maryland. Both states offer first-time buyer programs — explore the state pages for full details.