Can I Afford a $100K Home in Virginia?
Complete mortgage breakdown for a $100,000 home in Virginia, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $874 | $37,465 |
| 5% | $5,000 | $860 | $36,861 |
| 10% | $10,000 | $825 | $35,354 |
| 20% | $20,000 | $721 | $30,910 |
Monthly Cost Breakdown (Virginia)
Affordability Rules of Thumb
Buying a $100K Home in Virginia
A $100,000 home in Virginia is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $721 is achievable on a salary of $30,910 or more. Virginia's property tax rate of 0.8% is near the national average.
These estimates assume a 6.95% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in Virginia.
Other Home Prices in Virginia
$100K Homes in Other States
Explore Related Data for a $100K Home in Virginia
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What salary you need to afford $100K in Virginia
Affordability analysis — 40,000/yr gets you to this price range.
Take-home pay on $25,000 in Virginia
Federal tax, state tax, Social Security, and Medicare breakdown.
Tax brackets on $25,000 in Virginia
See exactly which brackets your income crosses.
Rent $800/mo vs buy $150,000
Compare total costs, equity, and break-even timeline.
Retirement at 30 earning $30,000
Savings benchmarks and projections for someone at this income.
Frequently Asked Questions
How much is a mortgage on a $100K home in Virginia?
With 20% down on a $100K home in Virginia, your estimated monthly payment is $721 including principal, interest (6.95%), property taxes (0.8%), and homeowners insurance.
What salary do you need for a $100K house in Virginia?
To afford a $100K home in Virginia with 20% down, you'd need a household income of approximately $30,910 per year, using the 28% rule (housing costs should not exceed 28% of gross income).
How much are property taxes on a $100K home in Virginia?
Property taxes on a $100K home in Virginia are approximately $800 per year ($67/month), based on the average effective property tax rate of 0.8%.
What is the total cost of a $100K home in Virginia over 30 years?
The total cost of a $100K home in Virginia over 30 years includes the down payment of $20,000 plus $721 monthly for 360 months. This totals approximately $279,641, including all property taxes, insurance, and interest.
Is PMI required on a $100K home in Virginia?
No, PMI is not required because you're putting down 20% or more. However, if you put down less than 20%, PMI typically adds ~0.5% of the loan amount annually to your monthly payment.