Mortgage Calculator & Closing Costs: Alexandria, VA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Alexandria, Virginia.
Median Home Price
$650K
Population
159K
Avg Monthly Rent
$2,350
Property Tax Rate
0.82% *
* Property tax shown is the Virginia state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Alexandria.
Alexandria vs Virginia Median
The median home price in Alexandria is $650,000, which is 63% above the Virginia state median of $400,000.
Mortgage Calculator — Alexandria, VA
Pre-filled with Alexandria median home price and Virginia tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $650K home using Virginia's 0.82% tax rate and $1,700/yr insurance.
5% Down
$4,849/mo
Down: $32,500
Loan: $618K
P&I: $3,903
Tax: $444
Insurance: $142
PMI: $360
10% Down
$4,625/mo
Down: $65,000
Loan: $585K
P&I: $3,698
Tax: $444
Insurance: $142
PMI: $341
20% Down (No PMI)
$3,873/mo
Down: $130,000
Loan: $520K
P&I: $3,287
Tax: $444
Insurance: $142
Income needed (28% rule): $166K/year with 20% down, $198K/year with 10% down.
Rent vs Buy in Alexandria
Rent
$2,350/mo
vs
Buy (10% down)
$4,625/mo
Price-to-rent ratio: 23.0 — At a ratio above 20, renting may be more economical in Alexandria for shorter stays. Buying costs $2,275 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Alexandria is $650,000, 63% above the Virginia state median of $400,000. With a population of 159,467, Alexandria is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Virginia average 0.82% annually. This moderate property tax rate means a $650,000 home in Alexandria would carry roughly $444/month in property taxes. Homeowners insurance in Virginia runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Alexandria is $2,350/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Alexandria is a higher-cost market. At $650K median, buyers need significant savings or strong income. Down payment assistance through Virginia's Virginia Housing DPA Grant program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Alexandria.