Virginia Housing Market Prices
Virginia Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 3% above the US median$256,082
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Median rent 12% above the US median More expensive than 78% of states in US$1,579
Median Home Price Map: Counties in Virginia
Housing Market Overview
| Metric | Virginia | US Average |
|---|---|---|
| Median Home Price | $256,082 | $248,835 |
| Price Trend (Annual %) | 3.5% | 7.5% |
| Median Gross Rent | $1,579 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Virginia is about 3% higher than in US. Rent is about 12% higher than the US average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Virginia, up about 3.5% and 4.2% a year respectively. Rent is changing faster.
Median rent in Virginia rose about 41.5% between 2015 and 2024, from $1,115 to $1,579. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Virginia.
Buying the median-priced home in Virginia costs roughly 13.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Virginia. The price-to-rent ratio in US is about 14.7.
| Metric | Virginia | US Average |
|---|---|---|
| Median Home Price | $256,082 | $248,835 |
| Median Household Income | $93,527 | $80,455 |
| Price-to-Income Ratio | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Virginia rose about 35.1%, while median household income rose about 51.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Virginia | US Average |
|---|---|---|
| Homeownership Rate | 61.5% | 58.5% |
| Rental Rate | 29.8% | 31.2% |
| Vacancy Rate | 8.7% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 |
Virginia has a homeownership rate of 61.5%, higher than the US average of 58.5%. Its housing vacancy rate is 8.7%, compared with 10.2% in US.
Housing Stock
| Metric | Virginia | US Average |
|---|---|---|
| Average Household Size | 2.52 people | 2.53 people |
| Median Structure Built Year | 1982 | 1978 |
| Median Number of Rooms | 6.0 | 5.5 |
The typical housing unit in Virginia was built around 1982. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 15.0 years on average.
Virginia Housing Compared With Nearby States
Virginia is the 3rd largest of the 6 states compared here, 8,702,460 residents against a local median of 6,204,886. Where Virginia breaks from the states next to it is median rent, sitting 29% above the local median of $1,227 at $1,579.
The states themselves spread $1,082 on median rent, so Virginia sits at one end of an already wide local range rather than apart from it. Virginia has the 3rd highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Virginia | 8,702,460 | $256,082 #4/6 | $1,579 #3/6 | 67.3% #4/6 |
| North Carolina | 10,724,323 | $278,288 | $1,227 | 66.6% |
| District of Columbia | 678,314 | $597,276 | $1,953 | 41.5% |
| West Virginia | 1,778,099 | $94,699 | $871 | 74.9% |
| Maryland | 6,204,886 | $267,101 | $1,704 | 67.6% |
| Pennsylvania | 13,004,688 | $152,469 | $1,208 | 69.3% |
Frequently Asked Questions
Common questions about the housing market in Virginia.
What is the median home price in Virginia?
The median home price in Virginia is $256,082, higher than the US average of $248,835.
What is the average home price in Virginia?
The typical home price in Virginia, reported as the median sale price, is $256,082. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Virginia?
The median gross rent in Virginia is $1,579 per month, higher than the US average of $1,407.
What was the median gross rent in Virginia in 2020?
In 2020, the median gross rent in Virginia was $1,257 per month.
What is the price-to-rent ratio in Virginia?
The price-to-rent ratio in Virginia is about 13.5, meaning it would take roughly 13.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Virginia.
Are home prices or rent rising faster in Virginia?
Both home prices and rent are rising in Virginia, up about 3.5% and 4.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Virginia?
61.5% of households in Virginia own their home, higher than the US average of 58.5%.
What is the vacancy rate in Virginia?
The housing vacancy rate in Virginia is 8.7%, lower than the US average of 10.2%.
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