Hanover County, Virginia home prices
Typical home $456,445 · +3.5% in a year · property tax 0.66%
The typical home in Hanover County is worth $456,445, 11% more than the Virginia typical home ($412,252). Values changed +3.5% in the past year and +28.9% over five years. Homeowners here pay a median 0.66% of their home's value in property tax each year ($2,995 on the typical home), versus 0.71% statewide.
Mortgage on the typical Hanover County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $91,289 | $365,156 | $2,456 | $0 | $478 | $2,934 | $125,800 |
| 10% down | $45,645 | $410,801 | $2,763 | $171 | $478 | $3,412 | $146,200 |
| 5% down | $22,822 | $433,623 | $2,917 | $181 | $478 | $3,575 | $153,200 |
| 3.5% down (FHA) | $15,976 | $448,178 | $3,015 | $202 | $478 | $3,695 | $158,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.66% 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.
What it takes: see what you can afford by salary in Virginia · part of the Richmond metro area.
Virginia counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Manassas Park City | $456,320 | +1.6% | 1.17% |
| Spotsylvania County | $456,909 | +0.9% | 0.58% |
| Poquoson City | $460,122 | +1.8% | 0.92% |
| York County | $463,575 | +2.8% | 0.64% |
| New Kent County | $447,882 | +3.6% | 0.64% |
| Fredericksburg City | $467,891 | +1.7% | 0.6% |
| King George County | $476,101 | +2.8% | 0.53% |
| Manassas City | $481,776 | -0.6% | 1.09% |
| Charlottesville City | $483,274 | +0.5% | 0.8% |
| James City County | $484,205 | +1.8% | 0.65% |
Frequently asked questions
What is the average home price in Hanover County, VA?
The typical home value in Hanover County is $456,445 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Hanover County?
About $125,800 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Hanover County?
The median effective rate is 0.66% of home value a year (Census ACS 2024 5-year estimates).