Petersburg City, Virginia home prices
Typical home $196,761 · +1.2% in a year · property tax 0.81%
The typical home in Petersburg City is worth $196,761, 52% less than the Virginia typical home ($412,252). Values changed +1.2% in the past year and +68.4% over five years. Homeowners here pay a median 0.81% of their home's value in property tax each year ($1,586 on the typical home), versus 0.71% statewide.
Mortgage on the typical Petersburg City home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $39,352 | $157,409 | $1,059 | $0 | $231 | $1,289 | $55,300 |
| 10% down | $19,676 | $177,085 | $1,191 | $74 | $231 | $1,496 | $64,100 |
| 5% down | $9,838 | $186,923 | $1,257 | $78 | $231 | $1,566 | $67,100 |
| 3.5% down (FHA) | $6,887 | $193,197 | $1,300 | $87 | $231 | $1,617 | $69,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.81% 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 |
|---|---|---|---|
| Charlotte County | $198,283 | +11.7% | 0.52% |
| Nottoway County | $195,140 | +7.3% | 0.45% |
| Pittsylvania County | $193,773 | +2.2% | 0.59% |
| Patrick County | $192,865 | +2.5% | 0.55% |
| Buena Vista City | $190,494 | +3.6% | 0.91% |
| Alleghany County | $187,513 | +3.1% | 0.79% |
| Giles County | $206,518 | +8.6% | 0.61% |
| Grayson County | $207,245 | +5.5% | 0.56% |
| Carroll County | $185,932 | +6.2% | 0.53% |
| Mecklenburg County | $209,597 | +3.6% | 0.45% |
Frequently asked questions
What is the average home price in Petersburg City, VA?
The typical home value in Petersburg City is $196,761 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Petersburg City?
About $55,300 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Petersburg City?
The median effective rate is 0.81% of home value a year (Census ACS 2024 5-year estimates).