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Virginia is for Lovers

Home Mortgage Rates in Virginia

Richmond, Virginia Skyline.

It is no secret that real estate is hot in Virginia, mainly in the areas close to metropolitan cities such as Washington, D.C. In northern Virginia, this area encompasses Fairfax County, Arlington County, and the city of Alexandria. A little further south, cities such as Fredericksburg, Hopewell and Petersburg are on the outskirts of Richmond, another metropolitan area experiencing growth. Norfolk has the largest naval base in the United States and employs a lot of military and civilian men and women, so areas such as Portsmouth, Newport News and Hampton offer affordable housing for those people.

Virginia is one of the wealthiest states, and many areas have some of the highest incomes in the country with housing rates corresponding to that. Virginia is known for its rich colonial history, military/government complexes, proximity to the nation’s capital, popular beaches, and scenic mountains. The cost of housing in rising in the state, and Virginia is having trouble meeting the demand for homes. The state is one of the more expensive to live in, particularly for those in desirable locations like Virginia Beach and the broader Washington D.C. metro area.

Current Real Estate Trends

Data from NeighborhoodScout states that the average home price in Virginia is $264,666, which is well above the national average of around $200,000. Current trends show that property values are steadily increasing.

Northern Virginia is the most expensive region in the state, especially areas near DC. Houses in the northern part of the state can average around $430,000 and in some areas home prices can go into the millions. A major factor as to why Northern Virginia is so expensive is because of its proximity to the nation’s capital.

According to an article by the Washington Post, the number of units sold in Northern VA rose 8.4 percent in the last few years, and the average number of days a property stays on the market decreased by 13 percent. There is plenty of demand for homes, however keeping up with that demand is an issue.

However, some areas of Virginia are more affordable. Areas in the Southern and Western regions of the state such as the city of Roanoke are much cheaper.

When compared to homes in Los Angeles, New York City, and San Francisco, most of Virginia is cheaper than those locations. However, compared to Orange County, California- just outside of LA-many locations in Virginia are not much cheaper than Orange County’s $656,000 median price for a home.

Historic Real Estate Trends

Since the last recession, Virginia’s economy has still not fully rebounded, and while its housing market is healthy, it has only been a very gradual increase since the recession. Growth has been gradual and the state is considered very average in terms of post-recession growth. However, some areas have rebounded and are doing well.

According to the Virginia Gazette, areas such as Williamsburg saw a 13.8% growth in the first quarter of 2016 compared to the first quarter of 2015. Virginia on average saw a 2.2 percent growth in the same year.

Overall, the market is stabilizing, and both buyers and sellers are getting value for homes. Some areas fare better than others. According to the Virginia Association of Realtors, areas like Hampton Roads saw a 9.9% growth, which is much higher than the state average.

Across the state homeownership stood at 67.8% in 1992. Ownership jumped with the tech bubble to a peak of 75.1% in 2001. In the 15 years since then the homeownership rate has fallen to 66.3% in 2016.

Places to Live

Metropolitan Areas

VA Rank US Rank Metropolitan Area 2016 Pop 2010 Pop Change % △
1 6 Washington-Arlington-Alexandria, DC-VA-MD-WV Metro Area 6,131,977 5,636,232 495,745 8.80%
2 37 Virginia Beach-Norfolk-Newport News, VA-NC Metro Area 1,726,907 1,676,822 50,085 2.99%
3 45 Richmond 1,281,708 1,208,101 73,607 6.09%
4 160 Roanoke 313,698 308,707 4,991 1.62%
5 162 Kingsport-Bristol-Bristol, TN-VA Metro Area 306,334 309,544 -3,210 -1.04%
6 185 Lynchburg 260,232 252,634 7,598 3.01%
7 195 Charlottesville 231,349 218,705 12,644 5.78%
8 230 Blacksburg-Christiansburg-Radford 182,876 178,237 4,639 2.60%
9 306 Winchester, VA-WV Metro Area 135,238 128,472 6,766 5.27%
10 311 Harrisonburg 132,822 125,228 7,594 6.06%
11 333 Staunton-Waynesboro 121,247 118,502 2,745 2.32%
12 371 Danville 103,585 106,561 -2,976 -2.79%
13 376 Bluefield, WV-VA Micro Area 102,618 107,342 -4,724 -4.40%
14 501 Martinsville 64,890 67,972 -3,082 -4.53%
15 539 Big Stone Gap 58,060 61,313 -3,253 -5.31%

The fastest growing areas in Virginia are within a 35 mile radius of Washington, D.C. and those in the southern portion of the state. However, that does not mean that the rest of Virginia is not growing too. People are gravitating to the beauty of this state and the abundant availability of used homes as well as the new construction going on. Houses are holding their values, which is a plus and people are not afraid to invest in a higher priced home because of this.

Popular Cities

Virginia Beach

Virginia Beach.

Virginia Beach has not typically thought of by tourists in the same light as popular beaches from Florida, Hawaii, or California; but it is an affordable and beautiful city. It was named as the safest city in the United States in 2004. Virginia Beach is the state's largest city, with a population of around 452,602. The city is located along Virginia's coast, and is a resort city with many hotels, motels, and restaurants. Ecotourism such as whale watching are popular recreational activities. Every year, the city hosts the East Coast Surfing Championships.

Most jobs in Virginia Beach are in the tourism sector, but there are also many jobs in the military and other businesses. According to the Virginia Beach Department of Economic Development, an estimated $857 million is spent on tourism, with 14,900 jobs catering to 2.75 million visitors annually.

The city is home to several military bases such as the NAS Oceana and Training Support Center Hampton Roads and the Joint Expeditionary Base East; both are components of the US Navy. Major companies in the city include Geico, VT Group, Christian Broadcasting Network, and the American headquarters for Stihl.

Richmond

Main Street Station in Richmond, Virginia.

Richmond is the capital city of Virginia, with a population of 223,170. The city has a rich colonial history, with many museums and a wide variety of entertainment venues. The city has been dubbed a “foodie city”, being well-known for its southern cuisine. Near the city are also several theme parks such as Kings Dominion and Busch Gardens.

Richmond’s economy is mainly supported by jobs in law, finance, and government. The greater Richmond area has been ranked by MarketWatch the third best city in the United States in which to start a small business. The city is home to companies such as Genworth Financial, CapitalOne, and Philip Morris USA; including several Fortune 500 companies. Some of the US’ largest law firms reside in Richmond as well: Hunton and Williams, McGuirewoods, and Williams Mullen.

Arlington

Arlington, Virginia Financial District.

Arlington is an independent city-county with a population of 223,945. It is located in Northern Virginia, and is just outside of Washington D.C. Arlington has a rich military history, being home to the Arlington National Cemetery, Arlington Memorial Amphitheatre, and the Pentagon. There are many national monuments of significance to American history located in the county.

Arlington has been ranked one of the most consistent places of low unemployment in Virginia. According to the Arlington government’s website, the estimated number of jobs as of 2008 was 205,300. The Air Force Office of Scientific Research, DEA, Department of Defense, and other Federal agencies account for many jobs in the city.

Companies headquartered in Arlington include AES, Alcalde and Fay, Arlington Asset Investment, and Rosetta Stone.

Businessweek magazine has ranked Arlington one of the most recession proof cities in the country. During the recession in 2009, the unemployment rate in the area reached 4.9%. This was lower than Virginia as a whole which reached 6.6% unemployment, and the entire nation which reached 9.5%. Housing prices in Arlington, Alexandria, Springfield, Burke, Annandale, Manassas, Herndon, Fredericksburg and Springfield remained quite stable throughout the 2008 recession as these towns are served by the metro rail system which takes government and other workers into the metropolitan Washington area. With values holding even in down markets, homeowners are apt to hold onto their properties & ride out further appreciation.

Due to Arlington’s proximity to Washington, D.C., homes are pricey. Based on data from Trulia, the median home price in Arlington is $585,000 – $447 per square foot. Homes can go up from there; some neighborhoods average a million dollars in certain areas of the county. Data from Trulia also states that Arlington’s median income is $107,266 and the number of residents with college degrees is 81%; making Arlington one of the wealthiest and most educated areas in the state and in the country.

Alexandria

Old Town Shops in Alexandria, VA.

The city of Alexandria is located on the Potomac river about 7 miles south of downtown Washington D.C. Alexandria has an estimated population of 155,810. The "Old Town" city center has a deep & rich history.

Many non-profit organizations are based in the city including the American Diabetes Association, United Way and the Salvation Army.

Employment in the city is largely driven by governmental jobs at the federal level along with education jobs at Northern Virginia Community College & local government jobs for the city.

The proximity to Washington D.C. and stable federal governmental jobs lift local real estate prices. The median home value is $524,200, which yields a price per square foot of $343. The median rent is $2,195 per month.

In the first 6 years of the current decade Alexandria was the fastest growing city in the state with over 100,000 residents, having grown its population by 11.32%.

Norfolk

Downtown Norfolk Skyline.

Norfolk is a city located along Virginia’s coast, with a population of 245,115 people. Besides its closeness to the beach, Norfolk has many other attractions. It is home to the Chrysler Museum of Art, which is considered one of best art museums in the state. Norfolk also has a rich military history, and visitors can go on board the Battleship Wisconsin or see the Naval Station Norfolk. The city also offers boat tours and its own zoo.

Because of Norfolk’s location on the Chesapeake Bay, it is a major port for trans-Atlantic imports and exports.

Norfolk also has a strong Naval presence, and is home to a naval base. The Naval Station at Norfolk is headquarters for the United States Fleet Forces Command, which has around 62,000 personnel stationed there.

Defense contracting such as shipbuilding and repair also contributes to Norfolk’s economy. Among the companies that provide that service are BAE Systems Norfolk Ship Repair and General Dynamics NASSCO

According to Trulia, the average home price in Norfolk is $205,000, or $139 per square foot. Norfolk is certainly more working-class compared to its Arlington counterpart; the average income is around $45,107 and 24% of the population is college educated.

Chesapeake

Aerial View of Chesapeake, Virginia.

Chesapeake is a city located along Virginia’s coast with a population of 237,940. Along with its urban areas, many protected wildlife refuges such as the Great Dismal Swamp Wildlife Refuge are within the city’s limits. Aside from many wildlife preserves, Chesapeake also offers kayak and boats tours.

According to Chesapeake’s 2010 Comprehensive Annual Financial Report, the city’s top employers were Chesapeake City Public Schools, City of Chesapeake, Chesapeake Regional Medical Center, LTD Hospitality Group, and Sentara Healthcare.

Chesapeake’s median home price is around $263,000. The median income is $65,550 and the percent of college educated individuals is around 36%.

Roanoke

Roanoke Skyline.

Roanoke is a city of 99,660 people located in Virginia’s Western region in the Appalachian mountains. Aside from its proximity to the scenic mountains, Roanoke is home to the Science Museum of Virginia, the Hopkins Planetarium, and Taubman Museum of the Arts. Roanoke also has many live theatre and live music venues.

Roanoke College, a private college, is within a short distance from the city. Virginia Western Community College is located in the city.

The top employers in Roanoke are Carilion Roanoke Memorial Hospital, Roanoke City Public Schools, City of Roanoke, and United Parcel Service.

The median home price in the city is around $180,000- or $109 per square foot. The median household income is $48,000 and the percent of college educated individuals is 32%.

A Broad Range of Options to Choose From

Virginia is a popular state as it holds both amazing historical and high tech interests as well as other great points of interest. Whether one wants to be close to the D.C. area for employment purposes, or wants a diverse choice for entertainment and scenery, Virginia is, indeed, for lovers. Mountains, rivers, the Atlantic Ocean and even the metropolitan flavor can all be experienced here. There are amazing parks, some with forests and waterfalls. The Potomac River meanders south past George Washington’s birthplace of Oak Grove into the Chesapeake Bay. There are four seasons to enjoy and as many housing styles as you can imagine to choose from. Mass transit, including the metro train/subway system and city buses are a popular way to get around in the city. Malls, schools, churches and areas for recreation are within a few miles of most residential areas.

Aerial View of Alexandria, Virginia.

Cities such as Springfield, Arlington, Alexandria, Annandale and Falls Church offer a metropolitan flavor blended with suburban areas and excellent schools. Other cities such as McLean, Herndon, Lynchburg and Burke and Manassas offer older homes and a somewhat country atmosphere but are still close to the city. The areas further south, closer to the ocean, continue to grow and are still seeing an influx of a diverse population of people. There is a town and a home for everyone in Virginia so it depends on what you are looking for when searching for housing.

Virginia Census Data

According to the United States Census an estimated 8,411,808 people live in the state of Virginia. The state has 39,490.09 mi² of land area, which gave it a population density of 2013.01 per mi². Here is a list of cities, towns & Census Designated Places across the state along with their estimated population as of June 2016 & the 2010 United States Census. For Census Designated Places (CDP) where there was no population estimate available for 2016, the 2011-2015 American Community Survey 5-Year Estimates data was used.

All table columns are sortable. Click on the column headers to sort by that column. Click again to sort low to high. Cities with higher levels of population growth typically see the increased demand drive faster real estate price appreciation.

Rank Geography County 2016 Pop 2010 Pop Change % △ Land mi² Pop Den mi²
1 Virginia Beach Independent city 452,602 437,994 14,608 3.34% 249.02 1,817.53
2 Norfolk Independent city 245,115 242,803 2,312 0.95% 54.12 4,529.10
3 Chesapeake Independent city 237,940 222,209 15,731 7.08% 340.8 698.18
Arlington CDP Arlington 223,945 207,627 16,318 7.86% 25.97 8,623.22
4 Richmond Independent city 223,170 204,214 18,956 9.28% 59.81 3,731.32
5 Newport News Independent city 181,825 180,719 1,106 0.61% 68.71 2,646.27
6 Alexandria Independent city 155,810 139,966 15,844 11.32% 15.03 10,366.60
7 Hampton Independent city 135,410 137,436 -2,026 -1.47% 51.41 2,633.92
8 Roanoke Independent city 99,660 97,032 2,628 2.71% 42.56 2,341.64
9 Portsmouth Independent city 95,252 95,535 -283 -0.30% 33.65 2,830.67
10 Suffolk Independent city 89,273 84,585 4,688 5.54% 400.17 223.09
11 Lynchburg Independent city 80,212 75,568 4,644 6.15% 49.13 1,632.65
Centreville CDP Fairfax 73,660 71,135 2,525 3.55% 11.92 6,179.53
Dale City CDP Prince William 72,130 65,969 6,161 9.34% 14.23 5,068.87
Reston CDP Fairfax 60,112 58,404 1,708 2.92% 15.33 3,921.20
12 Harrisonburg Independent city 53,078 48,914 4,164 8.51% 17.42 3,046.96
13 Leesburg Loudoun 52,607 42,616 9,991 23.44% 12.39 4,245.92
Ashburn CDP Loudoun 48,954 43,511 5,443 12.51% 17.02 2,876.26
McLean CDP Fairfax 47,784 48,115 -331 -0.69% 24.79 1,927.55
Tuckahoe CDP Henrico 47,316 44,990 2,326 5.17% 20.47 2,311.48
14 Charlottesville Independent city 46,912 43,475 3,437 7.91% 10.24 4,581.25
15 Blacksburg Montgomery 45,038 42,620 2,418 5.67% 19.89 2,264.35
Lake Ridge CDP Prince William 43,963 41,058 2,905 7.08% 9.35 4,701.93
Annandale CDP Fairfax 42,893 41,008 1,885 4.60% 7.86 5,457.12
Burke CDP Fairfax 42,205 41,055 1,150 2.80% 8.61 4,901.86
16 Danville Independent city 41,898 43,055 -1,157 -2.69% 42.93 975.96
17 Manassas Independent city 41,483 37,821 3,662 9.68% 9.88 4,198.68
Linton Hall CDP Prince William 40,567 35,725 4,842 13.55% 12.74 3,184.22
Marumsco CDP Prince William 38,847 35,036 3,811 10.88% 7.42 5,235.44
Mechanicsville CDP Hanover 37,210 36,348 862 2.37% 28.31 1,314.38
Oakton CDP Fairfax 36,739 34,166 2,573 7.53% 9.75 3,768.10
Fair Oaks CDP Fairfax 33,268 30,223 3,045 10.08% 5 6,653.60
18 Petersburg Independent city 31,882 32,420 -538 -1.66% 22.93 1,390.41
Springfield CDP Fairfax 30,444 30,484 -40 -0.13% 7.88 3,863.45
West Falls Church CDP Fairfax 29,489 29,207 282 0.97% 4.99 5,909.62
Sterling CDP Loudoun 28,883 27,822 1,061 3.81% 5.48 5,270.62
19 Fredericksburg Independent city 28,297 24,286 4,011 16.52% 10.44 2,710.44
20 Winchester Independent city 27,516 26,203 1,313 5.01% 9.23 2,981.15
South Riding CDP Loudoun 27,441 24,256 3,185 13.13% 6.9 3,976.96
Short Pump CDP Henrico 26,902 24,729 2,173 8.79% 8.95 3,005.81
Bailey's Crossroads CDP Fairfax 26,075 23,643 2,432 10.29% 2.05 12,719.51
Cave Spring CDP Roanoke 25,554 24,922 632 2.54% 11.88 2,151.01
21 Salem Independent city 25,549 24,802 747 3.01% 14.44 1,769.32
22 Herndon Fairfax 24,393 23,292 1,101 4.73% 4.27 5,712.65
23 Staunton Independent city 24,363 23,746 617 2.60% 19.98 1,219.37
24 Fairfax Independent city 24,164 22,565 1,599 7.09% 6.24 3,872.44
Chantilly CDP Fairfax 23,864 23,039 825 3.58% 12.02 1,985.36
Lincolnia CDP Fairfax 23,802 22,855 947 4.14% 4.72 5,042.80
West Springfield CDP Fairfax 22,897 22,460 437 1.95% 4.8 4,770.21
25 Hopewell Independent city 22,735 22,591 144 0.64% 10.28 2,211.58
Woodlawn CDP Carroll 22,466 2,343 20,123 858.86% 19.44 1,155.66
Woodlawn CDP Fairfax 22,466 20,804 1,662 7.99% 2.3 9,767.83
Tysons Corner CDP Fairfax 22,437 19,627 2,810 14.32% 4.26 5,266.90
26 Christiansburg Montgomery 22,088 21,041 1,047 4.98% 14.38 1,536.02
Chester CDP Chesterfield 21,927 20,987 940 4.48% 13.16 1,666.19
27 Waynesboro Independent city 21,887 21,006 881 4.19% 15.04 1,455.25
Rose Hill CDP Fairfax 20,142 20,226 -84 -0.42% 5.56 3,622.66
Rose Hill CDP Lee 20,142 799 19,343 2420.90% 3.43 5,872.30
McNair CDP Fairfax 20,022 17,513 2,509 14.33% 2.05 9,766.83
Montclair CDP Prince William 19,896 19,570 326 1.67% 6.01 3,310.48
Franklin Farm CDP Fairfax 19,776 19,288 488 2.53% 4.75 4,163.37
Lorton CDP Fairfax 19,722 18,610 1,112 5.98% 5.3 3,721.13
Franconia CDP Fairfax 19,698 18,245 1,453 7.96% 3.47 5,676.66
Meadowbrook CDP Chesterfield 19,027 18,312 715 3.90% 8.13 2,340.34
Idylwood CDP Fairfax 18,514 17,288 1,226 7.09% 2.87 6,450.87
Cherry Hill CDP Prince William 18,089 16,000 2,089 13.06% 7.8 2,319.10
28 Culpeper Culpeper 18,006 16,379 1,627 9.93% 6.72 2,679.46
Burke Centre CDP Fairfax 17,982 17,326 656 3.79% 3.12 5,763.46
29 Colonial Heights Independent city 17,772 17,411 361 2.07% 7.52 2,363.30
30 Radford Independent city 17,483 16,408 1,075 6.55% 9.87 1,771.33
Fort Hunt CDP Fairfax 17,273 16,045 1,228 7.65% 5.85 2,952.65
Bon Air CDP Chesterfield 17,128 16,366 762 4.66% 8.32 2,058.65
Buckhall CDP Prince William 17,066 16,293 773 4.74% 20.19 845.27
Sudley CDP Prince William 17,009 16,203 806 4.97% 2.77 6,140.43
31 Bristol Independent city 16,960 17,835 -875 -4.91% 13.01 1,303.61
Highland Springs CDP Henrico 16,955 15,711 1,244 7.92% 8 2,119.38
Wolf Trap CDP Fairfax 16,631 16,131 500 3.10% 9.8 1,697.04
Laurel CDP Henrico 16,618 16,713 -95 -0.57% 5.39 3,083.12
32 Vienna Fairfax 16,468 15,687 781 4.98% 4.41 3,734.24
Merrifield CDP Fairfax 16,412 15,212 1,200 7.89% 2.72 6,033.82
Groveton CDP Fairfax 16,373 14,598 1,775 12.16% 4.34 3,772.58
Hybla Valley CDP Fairfax 16,106 15,801 305 1.93% 2.06 7,818.45
Neabsco CDP Prince William 16,073 12,068 4,005 33.19% 4.61 3,486.55
Kingstowne CDP Fairfax 15,935 15,556 379 2.44% 2.86 5,571.68
33 Manassas Park Independent city 15,915 14,273 1,642 11.50% 2.53 6,290.51
Great Falls CDP Fairfax 15,764 15,427 337 2.18% 25.42 620.14
Brambleton CDP Loudoun 15,537 9,845 5,692 57.82% 5.75 2,702.09
34 Williamsburg Independent city 15,214 14,068 1,146 8.15% 9.02 1,686.70
35 Front Royal Warren 15,153 14,440 713 4.94% 9.24 1,639.94
Glen Allen CDP Henrico 15,007 14,774 233 1.58% 8.79 1,707.28
Bull Run CDP Prince William 14,781 14,983 -202 -1.35% 2.6 5,685.00
East Highland Park CDP Henrico 14,733 14,796 -63 -0.43% 8.81 1,672.30
Hollins CDP Roanoke & Botetourt 14,654 14,673 -19 -0.13% 8.63 1,698.03
36 Falls Church Independent city 14,014 12,332 1,682 13.64% 2 7,007.00
Brandermill CDP Chesterfield 13,721 13,173 548 4.16% 6.16 2,227.44
Kings Park West CDP Fairfax 13,702 13,390 312 2.33% 2.97 4,613.47
Newington CDP Fairfax 13,470 12,943 527 4.07% 4.55 2,960.44
37 Martinsville Independent city 13,445 13,821 -376 -2.72% 10.96 1,226.73
Broadlands CDP Loudoun 13,436 12,313 1,123 9.12% 3.26 4,121.47
Wakefield CDP Fairfax 13,082 11,275 1,807 16.03% 3.77 3,470.03
Lakeside CDP Henrico 13,039 11,849 1,190 10.04% 4.33 3,011.32
Gainesville CDP Prince William 12,950 11,481 1,469 12.80% 10.1 1,282.18
Huntington CDP Fairfax 12,718 11,267 1,451 12.88% 1.09 11,667.89
Mount Vernon CDP Fairfax 12,639 12,416 223 1.80% 5.24 2,412.02
Sugarland Run CDP Loudoun 12,527 11,799 728 6.17% 2.01 6,232.34
Timberlake CDP Campbell 12,440 12,183 257 2.11% 11.2 1,110.71
Newington Forest CDP  Fairfax 12,280 12,442 -162 -1.30% 3.31 3,709.97
Cascades CDP Loudoun 12,194 11,912 282 2.37% 3.69 3,304.61
38 Poquoson Independent city 12,017 12,150 -133 -1.09% 15.32 784.40
Dranesville CDP Fairfax 11,895 11,921 -26 -0.22% 3.84 3,097.66
Lansdowne CDP Loudoun 11,707 11,253 454 4.03% 3.98 2,941.46
Lowes Island CDP Loudoun 11,396 10,756 640 5.95% 2.96 3,850.00
Fairfax Station CDP Fairfax 11,290 12,030 -740 -6.15% 9.1 1,240.66
Manchester CDP Chesterfield 10,378 10,804 -426 -3.94% 5.93 1,750.08
Madison Heights CDP Amherst 10,355 11,285 -930 -8.24% 19.19 539.60
Countryside CDP Loudoun 10,301 10,072 229 2.27% 2.57 4,008.17
Forest CDP Bedford 10,292 9,106 1,186 13.02% 13.74 749.05
George Mason CDP Fairfax 10,065 9,496 569 5.99% 2.52 3,994.05
Wyndham CDP Henrico 10,040 9,785 255 2.61% 3.65 2,750.68
39 Warrenton Fauquier 9,861 9,611 250 2.60% 4.5 2,191.33
Lake Barcroft CDP Fairfax 9,833 9,558 275 2.88% 2.44 4,029.92
Lake Monticello CDP Fluvanna 9,629 9,920 -291 -2.93% 8.85 1,088.02
Stone Ridge CDP Loudoun 9,578 7,214 2,364 32.77% 2.52 3,800.79
40 Purcellville Loudoun 9,469 7,727 1,742 22.54% 3.15 3,006.03
Dunn Loring CDP Fairfax 9,393 8,803 590 6.70% 2.35 3,997.02
Yorkshire CDP Prince William 9,244 7,541 1,703 22.58% 2.41 3,835.68
Gloucester Point CDP Gloucester 9,199 9,402 -203 -2.16% 9.4 978.62
New Baltimore CDP Fauquier 9,192 8,119 1,073 13.22% 12.01 765.36
Stuarts Draft CDP Augusta 9,005 9,235 -230 -2.49% 19.82 454.34
University of Virginia CDP Albemarle 8,902 7,704 1,198 15.55% 1.77 5,029.38
Triangle CDP Prince William 8,901 8,188 713 8.71% 2.81 3,167.62
Woodburn CDP Fairfax 8,883 8,480 403 4.75% 2.78 3,195.32
41 Pulaski Pulaski 8,837 9,086 -249 -2.74% 7.9 1,118.61
Seven Corners CDP Fairfax 8,801 9,255 -454 -4.91% 0.68 12,942.65
Dumbarton CDP Henrico 8,701 7,879 822 10.43% 1.88 4,628.19
Rockwood CDP Chesterfield 8,634 8,431 203 2.41% 5.34 1,616.85
Independent Hill CDP Prince William 8,583 7,419 1,164 15.69% 8.94 960.07
42 Smithfield Isle of Wight 8,435 8,089 346 4.28% 9.48 889.77
Floris CDP Fairfax 8,357 8,375 -18 -0.21% 2.76 3,027.90
Hollymead CDP Albemarle 8,352 7,690 662 8.61% 6.46 1,292.88
43 Franklin Independent city 8,306 8,582 -276 -3.22% 8.21 1,011.69
Fort Belvoir CDP Fairfax 8,209 7,100 1,109 15.62% 8.77 936.03
44 Vinton Roanoke 8,185 8,098 87 1.07% 3.16 2,590.19
45 Farmville Prince Edward & Cumberland 8,140 8,216 -76 -0.93% 7.21 1,128.99
46 Wytheville Wythe 8,101 8,211 -110 -1.34% 14.49 559.08
47 Abingdon Washington 8,083 8,191 -108 -1.32% 8.07 1,001.61
Greenbriar CDP Fairfax 8,060 8,166 -106 -1.30% 1.57 5,133.76
48 South Boston Halifax 7,950 8,142 -192 -2.36% 13.06 608.73
Lake of the Woods CDP Orange 7,926 7,177 749 10.44% 4.93 1,607.71
Fishersville CDP Augusta 7,911 7,462 449 6.02% 13.51 585.57
Montrose CDP Henrico 7,880 7,993 -113 -1.41% 3.2 2,462.50
Fair Lakes CDP Fairfax 7,721 7,942 -221 -2.78% 2.39 3,230.54
Innsbrook CDP Henrico 7,699 7,753 -54 -0.70% 4.36 1,765.83
49 Ashland Hanover 7,649 7,225 424 5.87% 7.13 1,072.79
Laurel Hill CDP Fairfax 7,569 6,855 714 10.42% 4.46 1,697.09
Long Branch CDP Fairfax 7,560 7,593 -33 -0.43% 2.47 3,060.73
Mantua CDP Fairfax 7,531 7,135 396 5.55% 2.35 3,204.68
Collinsville CDP Henry 7,507 7,335 172 2.34% 7.86 955.09
Sandston CDP Henrico 7,317 7,571 -254 -3.35% 9.87 741.34
50 Lexington Independent city 7,045 7,042 3 0.04% 2.5 2,818.00
Aquia Harbour CDP Stafford 6,975 6,727 248 3.69% 2.84 2,455.99
Woodlake CDP Chesterfield 6,945 7,319 -374 -5.11% 2.42 2,869.83
North Springfield CDP Fairfax 6,825 7,274 -449 -6.17% 1.54 4,431.82
51 Galax Independent city 6,775 7,042 -267 -3.79% 8.24 822.21
Belle Haven CDP Fairfax 6,721 6,518 203 3.11% 1.98 3,394.44
Pimmit Hills CDP Fairfax 6,646 6,094 552 9.06% 1.48 4,490.54
52 Bedford Bedford County 6,615 6,222 393 6.32% 6.88 961.48
Crozet CDP Albemarle 6,601 5,565 1,036 18.62% 4.42 1,493.44
53 Strasburg Shenandoah 6,583 6,398 185 2.89% 3.75 1,755.47
Quantico Base CDP Prince William & Stafford 6,560 4,452 2,108 47.35% 7.01 935.81
South Run CDP Fairfax 6,500 6,389 111 1.74% 2.53 2,569.17
54 Buena Vista Independent city 6,452 6,650 -198 -2.98% 6.7 962.99
Belmont CDP Loudoun 6,360 5,966 394 6.60% 2.04 3,117.65
Bensley CDP Chesterfield 6,228 5,819 409 7.03% 2.87 2,170.03
Crosspointe CDP Fairfax 6,197 5,802 395 6.81% 2.2 2,816.82
Chamberlayne CDP Henrico 6,190 5,456 734 13.45% 3.35 1,847.76
55 Bridgewater Rockingham 6,048 5,644 404 7.16% 2.53 2,390.51
56 Marion Smyth 5,855 5,968 -113 -1.89% 4.12 1,421.12
Bellwood CDP Chesterfield 5,772 6,352 -580 -9.13% 5.8 995.17
Potomac Mills CDP Prince William 5,768 5,614 154 2.74% 4.03 1,431.27
Ettrick CDP Chesterfield 5,696 6,682 -986 -14.76% 2.94 1,937.41
Loudoun Valley Estates CDP Loudoun 5,659 3,656 2,003 54.79% 1.88 3,010.11
57 Covington Independent city 5,518 5,961 -443 -7.43% 5.47 1,008.78
58 Richlands Tazewell 5,428 5,823 -395 -6.78% 5.72 948.95
Carrollton CDP Isle of Wight 5,383 4,574 809 17.69% 5.71 942.73
59 Big Stone Gap Wise 5,372 5,614 -242 -4.31% 4.89 1,098.57
60 Emporia Independent city 5,305 5,927 -622 -10.49% 6.89 769.96
King George CDP King George 5,299 4,457 842 18.89% 10.78 491.56
61 Woodstock Shenandoah 5,248 5,097 151 2.96% 3.91 1,342.20
62 Dumfries Prince William 5,186 4,961 225 4.54% 1.54 3,367.53
Massanetta Springs CDP Rockingham 5,015 4,833 182 3.77% 4.75 1,055.79
63 Orange Orange 4,988 4,721 267 5.66% 3.31 1,506.95
Dulles Town Center CDP Loudoun 4,971 4,601 370 8.04% 2.43 2,045.68
64 Bluefield Tazewell 4,968 5,444 -476 -8.74% 9.32 533.05
65 Luray Page 4,816 4,895 -79 -1.61% 4.75 1,013.89
66 Rocky Mount Franklin 4,798 4,799 -1 -0.02% 6.84 701.46
Fort Lee CDP Prince George 4,747 3,393 1,354 39.91% 5.95 797.82
Bealeton CDP Fauquier 4,666 4,435 231 5.21% 5.47 853.02
Falmouth CDP Stafford 4,630 4,274 356 8.33% 2.98 1,553.69
Hayfield CDP Fairfax 4,610 3,909 701 17.93% 1.28 3,601.56
Kings Park CDP Fairfax 4,564 4,333 231 5.33% 1.31 3,483.97
67 South Hill Mecklenburg 4,471 4,650 -179 -3.85% 9.83 454.83
Woodbridge CDP Prince William 4,448 4,055 393 9.69% 1.6 2,780.00
Spotsylvania Courthouse CDP Spotsylvania 4,382 4,239 143 3.37% 10.43 420.13
68 Tazewell Tazewell 4,365 4,627 -262 -5.66% 6.91 631.69
University Center CDP Loudoun 4,341 3,586 755 21.05% 0.92 4,718.48
69 Berryville Clarke 4,304 4,185 119 2.84% 2.27 1,896.04
Stafford Courthouse CDP Stafford 4,295 4,320 -25 -0.58% 4.28 1,003.50
Loch Lomond CDP Prince William 4,149 3,701 448 12.10% 0.71 5,843.66
Bethel Manor CDP York 3,996 3,792 204 5.38% 0.5 7,992.00
Mount Hermon CDP Pittsylvania 3,981 3,966 15 0.38% 5.36 742.72
Enon CDP Chesterfield 3,973 3,466 507 14.63% 4.26 932.63
Shenandoah Farms CDP Warren & Clarke 3,930 3,033 897 29.57% 11.33 346.87
Lake Land'Or CDP Caroline 3,865 4,223 -358 -8.48% 4.52 855.09
70 Norton Independent city 3,864 3,958 -94 -2.37% 7.48 516.58
71 Broadway Rockingham 3,860 3,691 169 4.58% 2.35 1,642.55
72 Clifton Forge Alleghany 3,715 3,884 -169 -4.35% 3.02 1,230.13
Pantops CDP Albemarle 3,647 3,027 620 20.48% 2.14 1,704.21
73 Colonial Beach Westmoreland 3,571 3,542 29 0.82% 2.55 1,400.39
74 Altavista Campbell 3,468 3,450 18 0.52% 4.91 706.31
75 Blackstone Nottoway 3,453 3,621 -168 -4.64% 4.49 769.04
Verona CDP  Augusta 3,434 4,239 -805 -18.99% 7.54 455.44
Cloverdale CDP Botetourt 3,415 3,119 296 9.49% 3.1 1,101.61
76 West Point King William 3,314 3,306 8 0.24% 5.05 656.24
77 Lebanon Russell 3,285 3,424 -139 -4.06% 4.46 736.55
78 Wise Wise 3,083 3,286 -203 -6.18% 3.05 1,010.82
Dahlgren CDP King George 3,049 2,653 396 14.93% 2.7 1,129.26
North Shore CDP Franklin 2,951 3,094 -143 -4.62% 13.67 215.87
79 Chincoteague Accomack 2,919 2,941 -22 -0.75% 9.11 320.42
Southern Gateway CDP Stafford 2,900 2,805 95 3.39% 3.22 900.62
Daleville CDP Botetourt 2,872 2,557 315 12.32% 4.29 669.46
80 Elkton Rockingham 2,850 2,726 124 4.55% 3.04 937.50
81 Grottoes Rockingham & Augusta 2,799 2,668 131 4.91% 1.88 1,488.83
Weyers Cave CDP Augusta 2,754 2,473 281 11.36% 6.6 417.27
Gloucester Courthouse CDP Gloucester 2,732 2,951 -219 -7.42% 6.97 391.97
82 Pearisburg Giles 2,699 2,786 -87 -3.12% 3.16 854.11
84 Windsor Isle of Wight 2,683 2,626 57 2.17% 4.01 669.08
83 Dublin Pulaski 2,683 2,534 149 5.88% 1.36 1,972.79
85 Hillsville Carroll 2,655 2,681 -26 -0.97% 8.88 298.99
Blue Ridge CDP Botetourt 2,640 3,084 -444 -14.40% 6.09 433.50
86 Timberville Rockingham 2,640 2,522 118 4.68% 1.27 2,078.74
Lake Wilderness CDP Spotsylvania 2,570 2,669 -99 -3.71% 2.09 1,229.67
Ravensworth CDP Fairfax 2,563 2,466 97 3.93% 0.88 2,912.50
County Center CDP Prince William 2,513 3,270 -757 -23.15% 2.02 1,244.06
Laymantown CDP Botetourt 2,510 1,979 531 26.83% 2.94 853.74
Fairlawn CDP Pulaski 2,402 2,367 35 1.48% 3.15 762.54
87 Tappahannock Essex 2,386 2,375 11 0.46% 2.59 921.24
88 Shenandoah Page 2,334 2,373 -39 -1.64% 2.18 1,070.64
Lake Holiday CDP Frederick 2,302 1,905 397 20.84% 3.39 679.06
89 Chase City Mecklenburg 2,279 2,351 -72 -3.06% 2.19 1,040.64
90 Crewe Nottoway 2,216 2,326 -110 -4.73% 2.01 1,102.49
Massanutten CDP Rockingham 2,213 2,291 -78 -3.40% 9.92 223.08
91 New Market Shenandoah 2,207 2,146 61 2.84% 2.03 1,087.19
92 Amherst Amherst 2,205 2,231 -26 -1.17% 4.9 450.00
Lake Caroline CDP Caroline 2,154 2,260 -106 -4.69% 2.84 758.45
Matoaca CDP Chesterfield 2,132 2,403 -271 -11.28% 2.57 829.57
93 Waverly Sussex 2,050 2,149 -99 -4.61% 3.08 665.58
94 Mount Jackson Shenandoah 2,041 1,994 47 2.36% 2.72 750.37
Raven CDP Tazewell & Russell 2,018 2,270 -252 -11.10% 6.52 309.51
95 Saltville Smyth & Washington 2,009 2,077 -68 -3.27% 7.91 253.98
Ferrum CDP Franklin 1,996 2,043 -47 -2.30% 9.15 218.14
96 Coeburn Wise 1,986 2,139 -153 -7.15% 2.07 959.42
97 Lovettsville Loudoun 1,985 1,613 372 23.06% 0.88 2,255.68
Mason Neck CDP Fairfax 1,983 2,005 -22 -1.10% 13.85 143.18
98 Narrows Giles 1,971 2,029 -58 -2.86% 1.26 1,564.29
99 Haymarket Prince William 1,970 1,782 188 10.55% 0.56 3,517.86
100 Stephens City Frederick 1,967 1,829 138 7.55% 2.39 823.01
Prince George CDP Prince George 1,944 2,066 -122 -5.91% 6.27 310.05
101 Gate City Scott 1,930 2,034 -104 -5.11% 3.91 493.61
Crimora CDP Augusta 1,913 2,209 -296 -13.40% 3.03 631.35
Nokesville CDP Prince William 1,901 1,354 547 40.40% 9.61 197.81
Merrimac CDP Montgomery 1,890 2,133 -243 -11.39% 1.65 1,145.45
Castlewood CDP Russell 1,875 2,045 -170 -8.31% 7.19 260.78
Marshall CDP Fauquier 1,864 1,480 384 25.95% 2.88 647.22
Horse Pasture CDP Henry 1,857 2,227 -370 -16.61% 9.64 192.63
Rivanna CDP Albemarle 1,795 1,860 -65 -3.49% 2.72 659.93
102 Pennington Gap Lee 1,774 1,781 -7 -0.39% 1.62 1,095.06
103 Appomattox Appomattox 1,769 1,733 36 2.08% 2.2 804.09
Twin Lakes CDP Greene 1,744 1,647 97 5.89% 1.19 1,465.55
Oak Grove CDP Loudoun 1,727 1,777 -50 -2.81% 1.17 1,476.07
104 Chilhowie Smyth 1,721 1,781 -60 -3.37% 2.57 669.65
Hampden-Sydney CDP Prince Edward 1,704 1,450 254 17.52% 3.88 439.18
Brightwood CDP Madison 1,703 1,001 702 70.13% 4.98 341.97
Patrick Springs CDP Patrick 1,695 1,845 -150 -8.13% 15.54 109.07
Lyndhurst CDP Augusta 1,681 1,490 191 12.82% 5.99 280.63
105 Victoria Lunenburg 1,671 1,725 -54 -3.13% 2.82 592.55
106 Appalachia Wise 1,654 1,754 -100 -5.70% 2.22 745.05
107 Louisa Louisa 1,650 1,555 95 6.11% 1.83 901.64
108 Stanley Page 1,648 1,689 -41 -2.43% 1.43 1,152.45
Springville CDP Tazewell 1,647 1,371 276 20.13% 7.47 220.48
Plum Creek CDP Montgomery 1,646 1,524 122 8.01% 1.54 1,068.83
Claypool Hill CDP Tazewell 1,625 1,776 -151 -8.50% 5.33 304.88
109 Dayton Rockingham 1,609 1,530 79 5.16% 1.02 1,577.45
110 Gordonsville Orange & Louisa 1,583 1,496 87 5.82% 0.92 1,720.65
Piney Mountain CDP Albemarle 1,564 1,130 434 38.41% 1.15 1,360.00
Concord CDP Campbell & Appomattox 1,543 1,458 85 5.83% 5.59 276.03
111 Warsaw Richmond 1,485 1,512 -27 -1.79% 3.06 485.29
Riverdale CDP Halifax 1,483 956 527 55.13% 8.14 182.19
112 Rural Retreat Wythe 1,480 1,483 -3 -0.20% 2.29 646.29
Chatmoss CDP Henry 1,475 1,698 -223 -13.13% 5.36 275.19
113 Chatham Pittsylvania 1,473 1,269 204 16.08% 2.03 725.62
Apple Mountain Lake CDP Warren 1,459 1,396 63 4.51% 1.72 848.26
114 Glade Spring Washington 1,448 1,456 -8 -0.55% 1.22 1,186.89
115 Exmore Northampton 1,442 1,460 -18 -1.23% 2.64 546.21
116 Kilmarnock Lancaster & Northumberland 1,438 1,487 -49 -3.30% 3.42 420.47
Mountain Road CDP Halifax 1,430 1,100 330 30.00% 8.58 166.67
Adwolf CDP Smyth 1,418 1,530 -112 -7.32% 8.49 167.02
Prices Fork CDP Montgomery 1,407 1,066 341 31.99% 2.02 696.53
Boswell's Corner CDP Stafford 1,399 1,375 24 1.75% 0.97 1,442.27
Belmont Estates CDP Rockingham 1,388 1,263 125 9.90% 0.66 2,103.03
Bull Run Mountain Estates CDP Prince William 1,380 1,251 129 10.31% 1.77 779.66
117 Stuart Patrick 1,376 1,408 -32 -2.27% 3.24 424.69
Henry Fork CDP Franklin 1,374 1,234 140 11.35% 2.72 505.15
Union Hall CDP Franklin 1,365 1,138 227 19.95% 14.5 94.14
118 Honaker Russell 1,365 1,449 -84 -5.80% 1.68 812.50
Bracey CDP Mecklenburg 1,357 1,554 -197 -12.68% 13.02 104.22
Shawneeland CDP Frederick 1,345 1,873 -528 -28.19% 7.36 182.74
119 Middletown Frederick 1,334 1,265 69 5.45% 0.78 1,710.26
Cana CDP Carroll 1,310 1,254 56 4.47% 7.92 165.40
120 Clintwood Dickenson 1,302 1,414 -112 -7.92% 1.9 685.26
Greenville CDP Augusta 1,287 832 455 54.69% 3.66 351.64
Stanleytown CDP Henry 1,280 1,422 -142 -9.99% 2.71 472.32
Shawsville CDP Montgomery 1,274 1,310 -36 -2.75% 2.38 535.29
Dryden CDP Lee 1,268 1,208 60 4.97% 7.06 179.60
121 Onancock Accomack 1,266 1,263 3 0.24% 1.05 1,205.71
122 Hurt Pittsylvania 1,265 1,304 -39 -2.99% 3.48 363.51
Jolivue CDP Augusta 1,255 1,129 126 11.16% 1.9 660.53
Dooms CDP Augusta 1,247 1,327 -80 -6.03% 4 311.75
123 Courtland  Southampton 1,247 1,284 -37 -2.88% 0.92 1,355.43
124 Halifax Halifax 1,246 1,309 -63 -4.81% 3.78 329.63
125 Weber City Scott 1,246 1,327 -81 -6.10% 1.77 703.95
126 Gretna Pittsylvania 1,237 1,267 -30 -2.37% 1.73 715.03
Belview CDP Montgomery 1,236 891 345 38.72% 1.77 698.31
127 Kenbridge Lunenburg 1,221 1,257 -36 -2.86% 2.31 528.57
Elliston CDP Montgomery 1,210 902 308 34.15% 1.09 1,110.09
Passapatanzy CDP King George 1,204 1,283 -79 -6.16% 2.04 590.20
Wattsville CDP Accomack 1,195 1,128 67 5.94% 4.04 295.79
Emory CDP Washington 1,189 1,251 -62 -4.96% 4.1 290.00
128 Clarksville Mecklenburg & Halifax 1,186 1,139 47 4.13% 1.96 605.10
129 Buchanan Botetourt 1,173 1,178 -5 -0.42% 2.18 538.07
East Lexington CDP Rockbridge 1,171 1,463 -292 -19.96% 2.29 511.35
130 Bowling Green Caroline 1,167 1,111 56 5.04% 1.62 720.37
Central Garage CDP King William 1,156 1,318 -162 -12.29% 4.82 239.83
Nellysford CDP Nelson 1,139 1,076 63 5.86% 9.55 119.27
131 Brookneal Campbell 1,116 1,112 4 0.36% 3.51 317.95
132 Glasgow Rockbridge 1,116 1,133 -17 -1.50% 1.48 754.05
Bassett CDP Henry 1,113 1,100 13 1.18% 3.48 319.83
Atlantic CDP Accomack 1,111 862 249 28.89% 5.9 188.31
Moorefield Station CDP Loudoun 1,096 77 1,019 1323.38% 1.16 944.83
133 Pembroke Giles 1,091 1,128 -37 -3.28% 1.1 991.82
Meadow View CDP Washington 1,090 967 123 12.72% 4.63 235.42
Captains Cove CDP Accomack 1,082 1,042 40 3.84% 2.95 366.78
134 Lawrenceville Brunswick 1,069 1,438 -369 -25.66% 1.15 929.57
135 Edinburg Shenandoah 1,068 1,041 27 2.59% 0.76 1,405.26
136 Cedar Bluff Tazewell 1,061 1,137 -76 -6.68% 2.22 477.93
137 Occoquan Prince William & Fairfax 1,061 934 127 13.60% 0.17 6,241.18
Westlake Corner CDP Franklin 1,058 976 82 8.40% 10.07 105.06
Harriston CDP Augusta 1,050 909 141 15.51% 1.58 664.56
Rustburg CDP Campbell 1,039 1,431 -392 -27.39% 12.51 83.05
138 Cape Charles Northampton 1,039 1,009 30 2.97% 3.66 283.88
Deltaville CDP Middlesex 1,032 1,119 -87 -7.77% 4.06 254.19
Pastoria CDP Accomack 1,028 649 379 58.40% 2.21 465.16
Fort Chiswell CDP Wythe 1,024 939 85 9.05% 13.52 75.74
Atkins CDP Smyth 1,009 1,143 -134 -11.72% 5.37 187.90
Motley CDP Pittsylvania 992 1,015 -23 -2.27% 3.96 250.51
Ruckersville CDP Greene 984 1,141 -157 -13.76% 2.75 357.82
Glenvar CDP Roanoke 978 976 2 0.20% 1.38 708.70
New Hope CDP Augusta 972 797 175 21.96% 5.78 168.17
139 Grundy Buchanan 958 1,021 -63 -6.17% 4.98 192.37
140 Jonesville Lee 956 1,034 -78 -7.54% 1.26 758.73
141 Pound Wise 954 1,037 -83 -8.00% 2.58 369.77
142 Craigsville Augusta 935 923 12 1.30% 2.04 458.33
Ivy CDP Albemarle 927 905 22 2.43% 2.36 392.80
143 Independence Grayson 923 947 -24 -2.53% 2.34 394.44
Gratton CDP Tazewell 920 937 -17 -1.81% 5.43 169.43
144 St. Paul Wise & Russell 907 970 -63 -6.49% 1.33 681.95
Shenandoah Shores CDP Warren 906 934 -28 -3.00% 0.97 934.02
Cluster Springs CDP Halifax 903 811 92 11.34% 8.58 105.24
Laurel Park CDP Henry 883 675 208 30.81% 1.3 679.23
Maurertown CDP Shenandoah 881 770 111 14.42% 2.16 407.87
145 Wakefield Sussex 872 927 -55 -5.93% 1.24 703.23
146 Parksley Accomack 841 842 -1 -0.12% 0.62 1,356.45
Blairs CDP Pittsylvania 834 916 -82 -8.95% 3.47 240.35
147 Middleburg Loudoun 828 673 155 23.03% 1.04 796.15
148 Keysville Charlotte 808 832 -24 -2.88% 1.16 696.55
Chester Gap CDP Rappahannock & Warren 800 839 -39 -4.65% 2.08 384.62
149 Damascus Washington 797 814 -17 -2.09% 0.79 1,008.86
Blue Ridge Shores CDP Louisa 791 813 -22 -2.71% 1.37 577.37
Rushmere CDP Isle of Wight 786 1,018 -232 -22.79% 8.25 95.27
Penhook CDP Franklin 784 801 -17 -2.12% 11.18 70.13
Goochland CDP Goochland 777 861 -84 -9.76% 4.47 173.83
Fieldale CDP Henry 770 879 -109 -12.40% 1.55 496.77
Arrington CDP Nelson 767 708 59 8.33% 10.41 73.68
150 Rich Creek Giles 754 774 -20 -2.58% 0.83 908.43
Sherando CDP Augusta 746 688 58 8.43% 7.07 105.52
Oak Level CDP Henry 745 857 -112 -13.07% 6.07 122.73
151 Tangier Accomack 722 727 -5 -0.69% 1.25 577.60
Skyland Estates CDP Warren 713 830 -117 -14.10% 2.39 298.33
Riner CDP Montgomery 713 859 -146 -17.00% 1.46 488.36
152 Ridgeway Henry 697 742 -45 -6.06% 0.95 733.68
Seven Mile Ford CDP Smyth 696 783 -87 -11.11% 1.44 483.33
Gwynn CDP Mathews 695 602 93 15.45% 2.36 294.49
Basye CDP Shenandoah 685 1,253 -568 -45.33% 8.71 78.65
153 Round Hill Loudoun 659 539 120 22.26% 0.37 1,781.08
Opal CDP Fauquier 649 691 -42 -6.08% 3.14 206.69
Dante CDP Russell & Dickenson 632 649 -17 -2.62% 7.01 90.16
154 Remington Fauquier 631 598 33 5.52% 0.22 2,868.18
Saluda CDP Middlesex 629 769 -140 -18.21% 3.25 193.54
155 Hamilton Loudoun 625 506 119 23.52% 0.21 2,976.19
156 Boyce Clarke 615 589 26 4.41% 0.36 1,708.33
157 Jarratt Greensville & Sussex 614 638 -24 -3.76% 1.26 487.30
Camptown CDP Isle of Wight 609 766 -157 -20.50% 6.07 100.33
158 Scottsville Albemarie & Fluvanna 607 566 41 7.24% 1.53 396.73
Mathews CDP Mathews 589 555 34 6.13% 1.98 297.47
Bland CDP Bland 588 409 179 43.77% 2.07 284.06
Benns Church CDP Isle of Wight 585 872 -287 -32.91% 4.1 142.68
159 La Crosse Mecklenburg 584 604 -20 -3.31% 1.17 499.15
Shenandoah Retreat CDP Clarke 578 518 60 11.58% 1.51 382.78
Dahlgren Center CDP King George 573 599 -26 -4.34% 4.21 136.10
Montvale CDP Bedford 556 698 -142 -20.34% 2.41 230.71
Sugar Grove CDP Smyth 549 758 -209 -27.57% 2.91 188.66
160 Boykins Southampton 542 564 -22 -3.90% 0.69 785.51
161 Quantico Prince William 540 480 60 12.50% 0.07 7,714.29
Chase Crossing CDP Accomack 539 377 162 42.97% 0.83 649.40
Sedley CDP Southampton 537 470 67 14.26% 3.38 158.88
Parrott CDP Pulaski 528 435 93 21.38% 3.31 159.52
162 Belle Haven Accomack & Northampton 528 532 -4 -0.75% 1.49 354.36
163 Charlotte Court House Charlotte 527 543 -16 -2.95% 3.99 132.08
Hot Springs CDP Bath 526 738 -212 -28.73% 5.57 94.43
Esmont CDP Albemarle 521 528 -7 -1.33% 3.64 143.13
Gargatha CDP Accomack 519 381 138 36.22% 2.96 175.34
164 Onley  Accomack 513 516 -3 -0.58% 0.81 633.33
165 Drakes Branch Charlotte 511 530 -19 -3.58% 4.13 123.73
Gasburg CDP Brunswick 504 481 23 4.78% 5.64 89.36
Riverview CDP Wise 504 782 -278 -35.55% 0.57 884.21
Mappsville CDP Accomack 501 440 61 13.86% 0.79 634.18
166 Accomac Accomack 499 519 -20 -3.85% 0.38 1,313.16
Metompkin CDP Accomack 498 551 -53 -9.62% 1.16 429.31
New River CDP Pulaski 497 244 253 103.69% 0.39 1,274.36
167 Nassawadox Northampton 494 499 -5 -1.00% 0.79 625.32
168 Mineral Louisa 492 467 25 5.35% 0.89 552.81
Templeton CDP Prince George 488 431 57 13.23% 2.07 235.75
Amelia Court House CDP Amelia 483 1,099 -616 -56.05% 3.75 128.80
169 McKenney Dinwiddie 482 483 -1 -0.21% 0.93 518.28
170 Haysi Dickenson 474 498 -24 -4.82% 3.56 133.15
171 Cheriton Northampton 472 487 -15 -3.08% 1.03 458.25
172 Urbanna Middlesex 470 476 -6 -1.26% 0.42 1,119.05
173 Fries Grayson 467 484 -17 -3.51% 0.64 729.69
Villa Heights CDP Henry 458 717 -259 -36.12% 0.96 477.08
174 Mount Crawford Rockingham 452 433 19 4.39% 0.48 941.67
Clover CDP Halifax 450 438 12 2.74% 7.01 64.19
Lafayette CDP Montgomery 450 449 1 0.22% 0.64 703.13
Temperanceville CDP Accomack 449 358 91 25.42% 3.41 131.67
175 Dillwyn Buckingham 445 447 -2 -0.45% 0.64 695.31
Bobtown CDP Accomack 444 211 233 110.43% 3.58 124.02
176 Floyd Floyd 442 425 17 4.00% 0.46 960.87
Horntown CDP Accomack 431 574 -143 -24.91% 5.27 81.78
177 Troutville Botetourt 431 431 0 0.00% 0.69 624.64
178 Boydton Mecklenburg 416 431 -15 -3.48% 0.82 507.32
179 Irvington Lancaster 415 432 -17 -3.94% 1.5 276.67
Fairview Beach CDP King George 413 391 22 5.63% 0.29 1,424.14
Shipman CDP Nelson 412 507 -95 -18.74% 2.7 152.59
Mount Sidney CDP Augusta 412 663 -251 -37.86% 1.66 248.19
Sandy Level CDP Henry 406 484 -78 -16.12% 6.75 60.15
180 Burkeville Nottoway 406 432 -26 -6.02% 1 406.00
Southampton Meadows CDP Southampton 398 592 -194 -32.77% 0.29 1,372.41
181 Melfa Accomack 398 408 -10 -2.45% 0.28 1,421.43
Vansant CDP Buchanan 389 470 -81 -17.23% 3.01 129.24
182 Montross Westmoreland 389 384 5 1.30% 1.03 377.67
183 Stanardsville Greene 384 367 17 4.63% 0.36 1,066.67
Lovingston CDP Nelson 380 520 -140 -26.92% 4.03 94.29
Ivanhoe CDP Wythe 379 551 -172 -31.22% 2.68 141.42
184 Bloxom Accomack 378 387 -9 -2.33% 0.33 1,145.45
Wintergreen CDP Nelson & Augusta 377 165 212 128.48% 8.8 42.84
185 Iron Gate Alleghany 377 388 -11 -2.84% 0.33 1,142.42
186 Pocahontas Tazewell 376 389 -13 -3.34% 0.52 723.08
Oak Hall CDP Accomack 370 255 115 45.10% 1.1 336.36
Nelsonia CDP Accomack 367 523 -156 -29.83% 1.74 210.92
187 Nickelsville Scott 366 383 -17 -4.44% 0.48 762.50
Free Union CDP Albemarle 358 193 165 85.49% 2 179.00
188 Goshen Rockbridge 354 361 -7 -1.94% 1.7 208.24
189 Claremont Surry 346 378 -32 -8.47% 2.53 136.76
Whitesville CDP Accomack 346 219 127 57.99% 0.34 1,017.65
190 White Stone Lancaster 342 352 -10 -2.84% 0.98 348.98
Augusta Springs CDP Augusta 339 257 82 31.91% 3.75 90.40
Selma CDP Alleghany 339 529 -190 -35.92% 0.39 869.23
191 Fincastle Botetourt 339 353 -14 -3.97% 0.24 1,412.50
Boston CDP Accomack 336 504 -168 -33.33% 2.56 131.25
McMullin CDP Smyth 329 464 -135 -29.09% 0.98 335.71
192 Ivor Southampton 327 339 -12 -3.54% 1.09 300.00
193 Clinchco Dickenson 312 337 -25 -7.42% 2.8 111.43
195 Newsoms Southampton 310 321 -11 -3.43% 0.5 620.00
194 Dungannon Scott 310 332 -22 -6.63% 0.36 861.11
Catlett CDP Fauquier 297 296 1 0.34% 3.22 92.24
196 Clifton Fairfax 292 282 10 3.55% 0.25 1,168.00
Draper CDP Pulaski 291 320 -29 -9.06% 2.16 134.72
Keokee CDP Lee 286 416 -130 -31.25% 4.71 60.72
New Kent CDP New Kent 283 239 44 18.41% 4.48 63.17
197 Alberta Brunswick 283 298 -15 -5.03% 2.13 132.86
Ewing CDP Lee 280 439 -159 -36.22% 3.76 74.47
198 Brodnax Brunswick & Mecklenburg 279 298 -19 -6.38% 0.7 398.57
Carrsville CDP Isle of Wight 269 359 -90 -25.07% 3.2 84.06
Lee Mont CDP Accomack 265 125 140 112.00% 0.75 353.33
Makemie Park CDP Accomack 264 155 109 70.32% 1.01 261.39
Cats Bridge CDP Accomack 262 229 33 14.41% 3.17 82.65
199 Toms Brook Shenandoah 262 258 4 1.55% 0.14 1,871.43
Big Island CDP Bedford 261 303 -42 -13.86% 0.82 318.29
Sperryville CDP Rappahannock 259 342 -83 -24.27% 0.89 291.01
Middlebrook CDP Augusta 256 213 43 20.19% 7.41 34.55
Pungoteague CDP Accomack 251 347 -96 -27.67% 2.6 96.54
200 Dendron Surry 249 272 -23 -8.46% 3.57 69.75
201 Saxis Accomack 239 241 -2 -0.83% 0.42 569.05
Hanover CDP Hanover 237 252 -15 -5.95% 1.19 199.16
Tasley CDP Accomack 237 300 -63 -21.00% 1.07 221.50
202 Boones Mill Franklin 232 239 -7 -2.93% 0.73 317.81
203 Wachapreague Accomack 230 232 -2 -0.86% 0.23 1,000.00
Arcola CDP Loudoun 229 233 -4 -1.72% 2.24 102.23
204 The Plains Fauquier 228 217 11 5.07% 0.26 876.92
205 Painter Accomack 227 229 -2 -0.87% 0.64 354.69
206 Surry Surry 225 244 -19 -7.79% 0.83 271.08
Max Meadows CDP Wythe 221 562 -341 -60.68% 4.59 48.15
208 Phenix Charlotte 219 226 -7 -3.10% 1.15 190.43
207 Pamplin City Appomattox & Prince Edward 219 219 0 0.00% 0.32 684.38
209 Madison Madison 218 229 -11 -4.80% 0.21 1,038.10
Cumberland CDP Cumberland 216 393 -177 -45.04% 4.17 51.80
Charles City CDP Charles City 213 133 80 60.15% 2.7 78.89
New Church CDP Accomack 211 205 6 2.93% 1.89 111.64
Midland CDP Fauquier 210 218 -8 -3.67% 4.04 51.98
Buckingham Courthouse CDP Buckingham 209 133 76 57.14% 1.12 186.61
Quinby CDP Accomack 206 282 -76 -26.95% 1.12 183.93
210 Hallwood Accomack 204 206 -2 -0.97% 0.24 850.00
Belspring CDP Pulaski 201 256 -55 -21.48% 0.96 209.38
211 Port Royal Caroline 197 126 71 56.35% 0.1 1,970.00
Calverton CDP Fauquier 196 239 -43 -17.99% 4.59 42.70
Fancy Gap CDP Carroll 190 237 -47 -19.83% 4.05 46.91
Hiwassee CDP Pulaski 188 264 -76 -28.79% 5.14 36.58
212 Stony Creek Sussex 188 198 -10 -5.05% 0.58 324.14
Snowville CDP Pulaski 185 149 36 24.16% 2.17 85.25
Powhatan CDP Powhatan 185
213 Cleveland  Russell 184 202 -18 -8.91% 0.13 1,415.38
Callaghan CDP Alleghany 183 348 -165 -47.41% 1.51 121.19
Lunenburg CDP Lunenburg 180 165 15 9.09% 2.14 84.11
Yogaville CDP Buckingham 179 226 -47 -20.80% 5.09 35.17
214 Keller Accomack 176 178 -2 -1.12% 0.36 488.89
Flint Hill CDP Rappahannock 171 209 -38 -18.18% 1.74 98.28
215 Troutdale Grayson 170 178 -8 -4.49% 3.12 54.49
Sanford CDP Accomack 169 212 -43 -20.28% 2.87 58.89
216 Eastville Northampton 168 305 -137 -44.92% 0.19 884.21
Lancaster CDP Lancaster 167
Southside Chesconessex CDP Accomack 159 131 28 21.37% 1.35 117.78
217 Capron Southampton 156 166 -10 -6.02% 0.17 917.65
Greenbush CDP Accomack 151 220 -69 -31.36% 0.99 152.53
218 New Castle Craig 150 153 -3 -1.96% 0.16 937.50
Nathalie CDP Halifax 146 183 -37 -20.22% 2.98 48.99
Sussex CDP Sussex 145 256 -111 -43.36% 4.7 30.85
Palmyra CDP Fluvanna 143 104 39 37.50% 1.42 100.70
219 Virgilina Halifax 142 154 -12 -7.79% 0.62 229.03
Fairview CDP Mecklenburg 141 240 -99 -41.25% 1.06 133.02
Allisonia CDP Pulaski 140 117 23 19.66% 3.3 42.42
Greenbackville CDP Accomack 139 192 -53 -27.60% 0.52 267.31
220 Monterey Highland 136 147 -11 -7.48% 0.31 438.71
Scotland CDP Surry 135 203 -68 -33.50% 0.91 148.35
King and Queen Court House CDP King and Queen 132 85 47 55.29% 1.23 107.32
221 Scottsburg Halifax 131 119 12 10.08% 0.69 189.86
Harborton CDP Accomack 131 131 0 0.00% 0.38 344.74
Yorktown CDP York 130 195 -65 -33.33% 0.63 206.35
222 Washington Rappahannock 126 135 -9 -6.67% 0.26 484.62
Low Moor CDP Alleghany 122 258 -136 -52.71% 1.06 115.09
King William CDP King William 119 252 -133 -52.78% 4.61 25.81
223 Glen Lyn Giles 118 115 3 2.61% 0.65 181.54
Modest Town CDP Accomack 118 149 -31 -20.81% 0.59 200.00
224 St. Charles Lee 117 128 -11 -8.59% 0.18 650.00
225 Branchville Southampton 116 114 2 1.75% 0.43 269.77
Ebony CDP Brunswick 109 161 -52 -32.30% 4.37 24.94
Union Level CDP Mecklenburg 101 188 -87 -46.28% 3.69 27.37
Deerfield CDP Augusta 101 132 -31 -23.48% 3.3 30.61
Schuyler CDP Nelson 101 298 -197 -66.11% 1.55 65.16
226 Hillsboro Loudoun 98 80 18 22.50% 0.08 1,225.00
Nottoway Court House CDP Nottoway 97 84 13 15.48% 1.25 77.60
Savage Town CDP Accomack 90 78 12 15.38% 0.3 300.00
Warfield CDP Brunswick 87 115 -28 -24.35% 2.36 36.86
Bayside CDP Accomack 85 120 -35 -29.17% 1.69 50.30
227 Duffield Scott 85 91 -6 -6.59% 0.61 139.34
228 Columbia Fluvanna 80 83 -3 -3.61% 0.19 421.05
Thynedale CDP Mecklenburg 72 197 -125 -63.45% 0.74 97.30
Churchville CDP Augusta 68 194 -126 -64.95% 0.38 178.95
229 Clinchport Scott 66 70 -4 -5.71% 0.67 98.51
Savageville CDP Accomack 63 175 -112 -64.00% 1.07 58.88
Warm Springs CDP Bath 58 123 -65 -52.85% 1.51 38.41
Deep Creek CDP Accomack 55 115 -60 -52.17% 0.6 91.67
Heathsville CDP Northumberland 53 142 -89 -62.68% 3.98 13.32
Baskerville CDP Mecklenburg 47 128 -81 -63.28% 2.14 21.96
Mappsburg CDP Accomack 46 60 -14 -23.33% 2.26 20.35

Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2016
Source: U.S. Census Bureau, Population Division
Release Date: May 2017.

Newport News.

Home Loan Qualification

Conforming Mortgages

The most popular mortgage type in Virginia is a 30-year fixed-rate loan. Choosing a 30-year term produces the lowest stable monthly payment, although the mortgage will have a higher APR than a shorter-term product. This loan has an interest rate that does not change (it is fixed) over the life of the mortgage. Thirty-year mortgages carry a higher interest rate than 15-year loans, as the lender is guaranteeing a fixed rate for twice as long. Switching from a 30-year mortgage to its 15-year cousin will increase monthly payments, but can cut the amount of interest owed by tens of thousands of dollars over the lifetime of the loan.

To qualify for a 30-year fixed loan, a good credit scores and reliable work history are often required. Lenders prefer a down payment of 20% of the home’s value; but there are some loans that allow a smaller down payment. However, it is important to note that the smaller the down payment is, the more scrutiny the borrower will face by the lender. If the borrower cannot pay the 20 percent down payment up front, the lender may require private mortgage insurance (PMI) to protect them from financial losses.

The piggyback loan is another type of mortgage available to Washington residents. This is simply two mortgages in one. The piggyback loan can eliminate the need for private mortgage insurance by covering 80% of the home's value with the first loan, while the second loan helps to pay for part of the down payment. This mortgage is a good way to avoid the standard 20% down payment, which is required by most private banks issuing loans.

Credit scores of 740 and higher will qualify for lenders' best rates. Cleaning up your credit report before applying for a home loan can save thousands of dollars in interest. Mortgage lenders usually prefer to see debt-to-income ratios below 40%, but they will look at all variables on an application before making a decision.

ARM loans have a fixed term in the first few years and then change once per year. Although adjustable-rate mortgages usually have a lower initial rate than 30-year fixed loans, interest rates on ARM loans can rise later in the loan. Balloon loans are similar to ARM loans, but they are required repayment in full or refinancing at a fixed date.

As of 2017 the conforming loan limit across the United States is set to $424,100, with a ceiling of 150% that amount in areas where median home values are higher. Local affordability makes the $424,100 ceiling apply across most the state for single unit homes. Dual unit homes have a limit of $543,000, triple unit homes have a limit of $656,350 & quadruple unit homes have a limit of $815,650. People buying properties in the suburban area of Washington D.C. and other large metro areas across the state of Virginia have higher conforming mortgage thresholds.

Area Metropolitan Designation 1 Unit Limit 2 Unit Limit 3 Unit Limit 4 Unit Limit
Albemarle Charlottesville, Va $437,000 $559,450 $676,200 $840,400
Amelia Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Arlington Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Buckingham Charlottesville, Va $437,000 $559,450 $676,200 $840,400
Caroline Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Charles City Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Chesterfield Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Clarke Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Culpeper Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Cumberland Non-Metro $535,900 $686,050 $829,250 $1,030,600
Dinwiddie Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Fairfax Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Fauquier Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Fluvanna Charlottesville, Va $437,000 $559,450 $676,200 $840,400
Gloucester Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Goochland Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Greene Charlottesville, Va $437,000 $559,450 $676,200 $840,400
Hanover Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Henrico Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Isle Of Wight Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
James City Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
King And Queen Non-Metro $535,900 $686,050 $829,250 $1,030,600
King William Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Lancaster Non-Metro $442,750 $566,800 $685,100 $851,450
Loudoun Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Louisa Non-Metro $535,900 $686,050 $829,250 $1,030,600
Mathews Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Nelson Charlottesville, Va $437,000 $559,450 $676,200 $840,400
New Kent Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Powhatan Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Prince George Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Prince William Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Rappahannock Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Spotsylvania Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Stafford Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Surry Non-Metro $458,850 $587,400 $710,050 $882,400
Sussex Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Warren Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
York Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Alexandria City Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Charlottesville Charlottesville, Va $437,000 $559,450 $676,200 $840,400
Chesapeake City Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Colonial Height Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Fairfax City Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Falls Church City Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Fredericksburg Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Hampton City Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Hopewell City Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Manassas City Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Manassas Park City Washington-Arlington-Alexandria, Dc-Va- $636,150 $814,500 $984,525 $1,223,475
Newport News City Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Norfolk City Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Petersburg City Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Poquoson City Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Portsmouth City Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Richmond City Richmond, Va $535,900 $686,050 $829,250 $1,030,600
Suffolk City Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Virginia Beach Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400
Williamsburg City Virginia Beach-Norfolk-Newport News, Va $458,850 $587,400 $710,050 $882,400

People buying premium properties may be above these thresholds, requiring a jumbo loan. Jumbo loans typically have a slightly higher rate of interest than conforming mortgages, though spreads vary based on credit market conditions.

Hampton, Virginia.

Due to high property prices & local living costs in the Washington D.C. metro area refinancing is widely used along with home equity lines of credit (HELOC) to help parents pay for home upgrades and college expenses of their children.

Governmental Financial Assistance Programs

The Federal Housing Administration also provides mortgages and the governmental agency only requires a 580 credit score with 3.5% down. Lower scores must put more down. Any loan with a down payment of less than 20% must also pay insurance premiums.

The US Department of Veterans Affairs help veterans in securing housing benefits. VA loans are also available to military personnel in Virginia. The requirements for a VA loan are as follows: 90 days of active duty service during a war, 181 days of active service during peacetime, six years or more of service in the National Guard, or are the spouse of a person who had died while on active duty or of a duty-related injury.

USDA loans can help people with low incomes in rural parts of the state qualify for a subsidized low-interest loan.

State agencies such as the Virginia Housing Development Authority and the Virginia Department of Housing and Community Development can provide mortgage assistance and prevent foreclosure. Federal programs such as the Department of Housing and Urban Development provide housing assistance to low income individuals.

Natural Disasters

Earthquakes

Most of Virginia has a very low earthquake risk. The western border of the state near Kentucky has a low to moderate earthquake risk. The area near Richmond also has a low earthquake risk.

Here is a list of counties with a low earthquake risk: Bland, Buckingham, Cumberland, Fluvanna, Giles, Goochland, Lee, Powhatan, Pulaski, Russell, Scott, Smyth, Tazewell, Washington & Wythe.

Standard rental and homeowner insurance policies typically do not cover earthquake damage, though they usually cover losses caused by fires which resulted from an earthquake. You can supplement your homeowner's insurance with an earthquake policy.

Flooding

Most homeowner's insurance polices typically do not cover flooding.

While flooding is uncommon far inland, there has been a history of damages across the state caused by hurricanes like Hurricane Irene in 2011 & Hurricane Isabel in 2003.

Here is a list of counties with a flooding or hurricane storm surge risk above very low.

  • Low flooding risk: Alexandria City, Caroline, Charlottesville City, Chesterfield, Clarke, Colonial Heights City, Fauquier, Fredericksburg City, Goochland, Henry, Isle Of Wight, King And Queen, King William, Montgomery, Newport News City, Petersburg City, Pittsylvania, Radford, Roanoke, Roanoke City, Rockbridge, Suffolk City, Surry, Washington, Winchester City
  • Moderate flooding risk: Alleghany, Augusta, Bland, Botetourt, Buchanan, Chesapeake City, Craig, Franklin City, Giles, Gloucester, Grayson, Lee, New Kent, Page, Prince Edward, Rappahannock, Salem, Scott, Shenandoah, Smyth, Southampton, Sussex, Tazewell, Virginia Beach City, Warren, Westmoreland, York
  • High flooding risk: Bath, Covington City, Norfolk City, Norton City, Portsmouth City, Wise
  • Very high flooding risk: Hampton City, Poquoson City
  • Low hurricane storm surge risk: King William, New Kent
  • Moderate hurricane storm surge risk: Charles City, Gloucester, Hampton City, Hopewell City, Isle of Wight, Portsmouth City, Suffolk City, Surry, Virginia Beach City, Westmoreland
  • High hurricane storm surge risk: Poquoson City
  • Very high hurricane storm surge risk: Sussex

Home buyers with mortgages in high-risk areas are required to buy flood insurance. Most flood insurance policies are sold by the United States federal government through The National Flood Insurance Program. Under-priced flood insurance in high-risk areas act as a subsidy to wealthy homeowners.

The NFIP does not charge nearly enough to cover the expected costs of its liabilities. The assessments are not sufficient to build any buffer to cover an extraordinary year, such as what occurred with Hurricane Katrina in 2005 or Hurricane Sandy in 2012. Because homeowners don’t incur the full cost of building in a flood zone we end up with more houses there than if homeowners incurred the full cost of the flood risk, which exacerbates the government’s costs in the next disaster.

Homeowners who live in lower risk areas & are not required to purchase flood insurance heavily cross-subsidize homeowners who are in areas where floods are more common.

Tornadoes

The northeastern border of the state - near the national capital - is considered to have a moderate tornado risk. Fairfax City, Fairfax County, Manassas City & Stafford County have a high tornado risk, while Prince William County has a very high tornado risk.

A basic homeowners policy should cover financial damages from tornadoes.

Hail

Hail damage is not uncommon across the state. Damage from hail is typically covered by home insurance policies.

State Specific Considerations

Taxes

Virginia ranks close to the middle of all states in terms of property taxes. The median property tax rate across the United States was 1.24% in 2016. Across the state the median property tax assessment was $3,181 on a median home value of $321,992 for an effective rate of 0.99%.

Foreclosures

Virginia is what is known as a recourse state. Seeking recourse is when a lender seeks recovery of their loan from the borrower if the foreclosure sale doesn’t cover the loan amount. This can either be brought to court or handled outside of the courts.

Most foreclosures in Virginia are nonjudicial, meaning that the lender does not have to go through the court system to seek recourse. However, depending on the circumstances, sometimes recourse cases do go through the court system. Usually if the loan is secured by a deed or trust, then the foreclosure will take place out of court.

In Virginia, the lender can get a deficiency judgement against the borrower. Deficiency judgements are allowed after the nonjudicial foreclosure sale if the lender files a separate lawsuit. Deficiency judgements can also be put into effect in judicial foreclosures.

In Virginia, a lender can obtain a deficiency judgement after a short sale. A short sale is when you sell your home for less than the total debt balance and the money from the sale goes to pay off the debt. In order to avoid this, there must be a legal agreement stating the lender waives their right to the deficiency. If this is not in writing, then the lender can go forth with legal action against the borrower.

Conclusion

All in all, Virginia offers affordable housing, good to excellent schools (including colleges such as Georgetown, Virginia Tech., William and Mary and American University), above average employment opportunities and financing for the purchase or refinance of a home. This is a state where population growth is consistent and the economy tends to be more stable than other areas of the country, which makes it a great state in which to live.

Despite its slow rebound from the recession, Virginia has a healthy economy with a plethora of government jobs available, as well as many in the private sector. Because of Northern Virginia’s proximity to D.C., it is extremely expensive; while the Western parts of the state are more affordable. Here are some additional resources to learn about the state's real estate market.