Virginia housing market
Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$412,252+2.1% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 22% have cut their price
Income needed to buy, per year$89,368About 1.0× the local median income ($92,116): affordable for a typical household
Days on market50 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.5%Zillow expects prices to rise slightly
The typical home in Virginia is worth $412,252, up 2.1% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $386,904, so the area is 6.6% overvalued. It is a buyer's market: homes take about 50 days to sell, listings are up 26% from a year ago, 22% of listings have had a price cut. Zillow expects prices to rise about 2.5% over the next year. A household needs about $89,368 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $92,116. In the latest IRS figures, 1,334 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
| Typical home value | $412,252 |
| Change in 1 year | +2.1% |
| Overvalued % | +6.6% |
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| Fair home value | $386,904 |
| Change in 5 years | +23.5% |
| Zillow forecast, next 12 months | +2.5% |
| Home value to income | 4.5× |
| Monthly mortgage payment (20% down) | $2,234 |
| Income needed to afford it | $89,368 |
| Property tax rate | 0.73% |
Rent and investing
| HUD Fair Market Rent, 2 bedrooms | $1,796 |
Market activity
| Listings vs a year ago | +25.6% |
| Days on market | 50 |
| Listings with a price cut | 22.1% |
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| Homes for sale | 27,086 |
| Pending sales per 100 listings | 32 |
| Asking price per sq ft | $232 |
People and jobs
| Median household income | $92,116 |
| Population change (1 year) | +0.7% |
| Unemployment rate | 4.3% |
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| Population | 8,880,107 |
| Income adjusted for cost of living | $91,114 |
| Net moves in (IRS) | +1,334 |
| Cost of living (US = 100) | 101.1 |
Schools, risk and environment
| FEMA hazard risk score (0 to 100) | 62.5 |
| Unhealthy air days a year | 0 |
| Flood risk score | 71.6 |
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| Wildfire risk score | 33.1 |
| Walkability (1 to 20) | 9.0 |
| Road, rail and air noise | 54 dB |
Questions people ask
- Is Virginia overvalued?
- Home prices in Virginia are slightly above what local incomes have historically supported: fair value is about $386,904, so the area is 6.6% overvalued.
- Is Virginia a buyer's or seller's market?
- Virginia is a buyer's market: homes take about 50 days to sell, listings are up 26% from a year ago, 22% of listings have had a price cut.
- Are home prices going down in Virginia?
- Home values in Virginia are up 2.1% over the last year. Zillow's forecast for the next 12 months is +2.5%.
- How much do you need to earn to buy a home in Virginia?
- A household needs about $89,368 a year to afford the typical home in Virginia at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $92,116.
Metro areas
Washington-Arlington-Alexandria, DC-VA-MD-WVVirginia Beach-Chesapeake-Norfolk, VA-NCRichmond, VARoanoke, VAKingsport-Bristol, TN-VALynchburg, VACharlottesville, VABlacksburg-Christiansburg-Radford, VAWinchester, VA-WVHarrisonburg, VAStaunton-Stuarts Draft, VA
Counties
Accomack CountyAlbemarle CountyAlexandria CityAlleghany CountyAmelia CountyAmherst CountyAppomattox CountyArlington CountyAugusta CountyBath CountyBedford CountyBland CountyBotetourt CountyBristol CityBrunswick CountyBuchanan CountyBuckingham CountyBuena Vista CityCampbell CountyCaroline CountyCarroll CountyCharles City CountyCharlotte CountyCharlottesville CityChesapeake CityChesterfield CountyClarke CountyColonial Heights CityCounty 51515Covington CityCraig CountyCulpeper CountyCumberland CountyDanville CityDickenson CountyDinwiddie CountyEmporia CityEssex CountyFairfax CityFairfax CountyFalls Church CityFauquier CountyFloyd CountyFluvanna CountyFranklin CityFranklin CountyFrederick CountyFredericksburg CityGalax CityGiles CountyGloucester CountyGoochland CountyGrayson CountyGreene CountyGreensville CountyHalifax CountyHampton CityHanover CountyHarrisonburg CityHenrico CountyHenry CountyHighland CountyHopewell CityIsle of Wight CountyJames City CountyKing George CountyKing William CountyKing and Queen CountyLancaster CountyLee CountyLexington CityLoudoun CountyLouisa CountyLunenburg CountyLynchburg CityMadison CountyManassas CityManassas Park CityMartinsville CityMathews CountyMecklenburg CountyMiddlesex CountyMontgomery CountyNelson CountyNew Kent CountyNewport News CityNorfolk CityNorthampton CountyNorthumberland CountyNorton CityNottoway CountyOrange CountyPage CountyPatrick CountyPetersburg CityPittsylvania CountyPoquoson CityPortsmouth CityPowhatan CountyPrince Edward CountyPrince George CountyPrince William CountyPulaski CountyRadford CityRappahannock CountyRichmond CityRichmond CountyRoanoke CityRoanoke CountyRockbridge CountyRockingham CountyRussell CountySalem CityScott CountyShenandoah CountySmyth CountySouthampton CountySpotsylvania CountyStafford CountyStaunton CitySuffolk CitySurry CountySussex CountyTazewell CountyVirginia Beach CityWarren CountyWashington CountyWaynesboro CityWestmoreland CountyWilliamsburg CityWinchester CityWise CountyWythe CountyYork County