CALCMONEY // HOME AFFORDABILITY // VA // VIRGINIA BEACH
How much house can you afford in Virginia Beach? Based on local median home prices, current VA mortgage rates, and Virginia Beach property tax data.
$365,000
$2,376/mo
$101,842/yr
$259,412
Monthly housing costs of $2,376 represent 36.6% of Virginia Beach's median gross monthly income ($6,500/mo). At 36.6%, median-income buyers in Virginia Beach are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $365,000 |
| Down Payment (20%) | $73,000 |
| Loan Amount | $292,000 |
| Monthly PI Payment | $1,923 |
| Monthly Property Tax | $301 |
| Monthly Insurance Est. | $152 |
| Total Monthly PITI | $2,376 |
| Housing Cost % of Income | 36.6% |
| Required Income (28% rule) | $101,842/yr |
| Max Affordable Home | $259,412 |
$12,775
$3,022/mo
Virginia Beach Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $365,000 | Virginia Beach city median |
| Down Payment (20%) | $73,000 | Conventional loan |
| Monthly PITI | $2,376 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $101,842 | Annual gross |
| Max Affordable Home | $259,412 | Based on median income |
| FHA Down (3.5%) | $12,775 | Minimum FHA |
| Housing Cost % of Income | 36.6% | Median income: $78,000/yr |
| Property Tax Rate | 0.99% | $3,614/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Virginia Beach is $365,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $292,000, generating a monthly P&I payment of $1,923. Adding property taxes ($301/mo) and homeowners insurance ($152/mo) brings total monthly PITI to $2,376.
Virginia Beach's property tax rate of 0.99% is near the national average, adding a standard increment to monthly housing costs. On the Virginia Beach median home, that is $301/month, or $3,614 per year.
Virginia levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Virginia Beach should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Virginia Beach's median income of $78,000/year can afford up to $1,820/month in total housing costs. Based on Virginia Beach's mortgage rate of 6.9% and property tax rate of 0.99%, that translates to a maximum affordable home price of approximately $259,412 with 20% down on a 30-year loan.
To afford the median Virginia Beach home priced at $365,000, you need an annual gross income of approximately $101,842. Total monthly housing costs (principal and interest of $1,923, property taxes of $301, and insurance of $152) come to $2,376/month, which equals 28% of the required income.
At the median home price of $365,000 and median household income of $78,000, the total monthly housing cost of $2,376 represents 36.6% of gross monthly income. This is well above the standard 28% threshold, making Virginia Beach a challenging market for buyers at median income.
A conventional 20% down payment on the median Virginia Beach home of $365,000 is $73,000. An FHA loan requires just 3.5% down — $12,775 — but adds mortgage insurance of roughly $249/month, bringing total FHA payments to $3,022/month.
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