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What can you afford in Virginia?
A baseline estimate for a household earning $96,000 a year gross, with typical debts and expenses, a $40,000 down payment, and a 740-759 credit score — using Virginia's own property tax and insurance data rather than a national average. Every assumption is editable in the full calculator below.
Virginia's effective property tax rate is around 0.80% of home value per year — the 22nd lowest in the country. Average homeowner's insurance runs near $1,500/year on a $300,000 home — the 16th lowest.
Comfortable
$316,973
Stretch
$367,408
Risky ceiling
$397,669
This baseline's own budget can sustain at least as much as a lender's debt-to-income ceiling allows in Virginia — the DTI ratio, not the household budget, is what limits the number here.
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