Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Massachusetts and Virginia. Updated for 2026.
Virginia wins 6 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 Massachusetts. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Virginia saves you approximately $1,546/month ($18,552/year) compared to Massachusetts, based on median home prices with identical loan terms.
Virginia offers meaningfully lower home prices than Massachusetts, with median prices running 33% less ($195K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Massachusetts may find Virginia far more accessible, particularly when combined with local down payment assistance programs.
Virginia has a moderate property tax advantage at 0.82% versus Massachusetts's 1.2%. While the rate gap of 0.38% may seem small, it translates to an annual difference of approximately $3,860 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $31K in savings.
Closing costs are a one-time but significant expense. Massachusetts averages $10K in closing costs (1.6% of purchase price) while Virginia averages $6K (1.5%). The difference is spread across title insurance, attorney fees, and recording costs rather than a single large tax. Budget for these upfront costs — they affect how much cash you need on hand at closing.
Both states offer down payment assistance for first-time buyers. Massachusetts's MassHousing DPA provides Up to $50,000 DPA loan, while Virginia's Virginia Housing DPA Grant offers Up to 2.5% grant. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: Virginia homes cost $195K less than Massachusetts on average. That translates to roughly $1,546 less per month in total housing costs if you choose Virginia. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.