Mortgage payment estimates, closing cost breakdowns, and homebuying data for Radford, Virginia.
Median Home Price
$195K
Population
18K
Avg Monthly Rent
$880
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 Radford.
Radford vs Virginia Median
The median home price in Radford is $195,000, which is 51% below the Virginia state median of $400,000.
Mortgage Calculator — Radford, VA
Pre-filled with Radford median home price and Virginia tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $195K home using Virginia's 0.82% tax rate and $1,700/yr insurance.
5% Down
$1,554/mo
Down: $9,750
Loan: $185K
P&I: $1,171
Tax: $133
Insurance: $142
PMI: $108
10% Down
$1,487/mo
Down: $19,500
Loan: $176K
P&I: $1,109
Tax: $133
Insurance: $142
PMI: $102
20% Down (No PMI)
$1,261/mo
Down: $39,000
Loan: $156K
P&I: $986
Tax: $133
Insurance: $142
Income needed (28% rule): $54K/year with 20% down, $64K/year with 10% down.
Rent vs Buy in Radford
Rent
$880/mo
vs
Buy (10% down)
$1,487/mo
Price-to-rent ratio: 18.5 — A ratio between 15-20 means the rent vs buy decision in Radford depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Radford is $195,000, 51% below the Virginia state median of $400,000. With a population of 17,630, Radford is a smaller market where home prices tend to be more accessible than in many parts of Virginia.
Property taxes in Virginia average 0.82% annually. This moderate property tax rate means a $195,000 home in Radford would carry roughly $133/month in property taxes. Homeowners insurance in Virginia runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Radford is $880/month. The price-to-rent ratio in Radford is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Radford offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Virginia's Virginia Housing DPA Grant program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Radford.