How much house can I afford on $120,000 in Virginia?
About $433,000 with 20% down ($344,000 with an FHA loan), using Virginia's 0.71% property tax rate.
That is $20,259 more than the typical Virginia home ($412,252), so a $120,000 salary can buy a typical home here. The payment of $2,800 covers $2,328 principal and interest, $256 property tax and $216 insurance.
Counties in Virginia you can afford on $120,000
107 of 133 counties have a typical home value at or below $433,000. The 25 priciest of them:
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Frederick County | $428,315 | +1.3% | 0.48% |
| Chesapeake City | $424,806 | +3.6% | 0.82% |
| Virginia Beach City | $424,664 | +3.1% | 0.8% |
| Madison County | $420,931 | +4.4% | 0.53% |
| Louisa County | $419,890 | +2.6% | 0.6% |
| Williamsburg City | $414,600 | +3.4% | 0.59% |
| Chesterfield County | $410,086 | +2.6% | 0.76% |
| Henrico County | $397,454 | +1.8% | 0.71% |
| Lancaster County | $397,428 | +5.6% | 0.48% |
| Warren County | $394,470 | +3.0% | 0.52% |
| Suffolk City | $387,665 | +2.8% | 0.93% |
| Isle of Wight County | $383,688 | +2.2% | 0.7% |
| Greene County | $382,417 | +1.2% | 0.61% |
| Orange County | $380,385 | +1.8% | 0.55% |
| Middlesex County | $380,242 | +1.2% | 0.5% |
| Gloucester County | $375,131 | +4.0% | 0.57% |
| Fluvanna County | $372,612 | +1.1% | 0.63% |
| Augusta County | $369,272 | +5.6% | 0.47% |
| Northumberland County | $366,411 | +2.5% | 0.47% |
| Richmond City | $365,737 | +2.2% | 0.89% |
| Franklin County | $363,796 | +3.9% | 0.5% |
| Nelson County | $362,239 | +3.0% | 0.5% |
| Rockingham County | $361,245 | +2.1% | 0.53% |
| Caroline County | $359,075 | +3.6% | 0.52% |
| Prince George County | $356,119 | +3.8% | 0.74% |
Affordable metro areas
Assumes a 30-year fixed loan at 7.11%, property tax of 0.71% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Other salaries in Virginia
Frequently asked questions
How much house can I afford on $120,000 in Virginia?
About $433,000 with 20% down at 7.11%, keeping the payment (with Virginia's 0.71% property tax and insurance) under $2,800 a month.
Is $120,000 enough to buy a house in Virginia?
Yes: the typical Virginia home is worth $412,252 (Zillow, September 2026) and $120,000 supports about $433,000. 107 of 133 counties are within budget.