Virginia
Ranked #31 of 51 for housing affordability
Median Home Price
🏠$383K
4.26x income
Median Rent
🔑$1,567
31.0% rent-burdened
Median Income
💰$90K
Population: 8,642,274
Homeownership
🏡68.0%
6,068 experiencing homelessness
Housing Shortage
📉120,000
units needed
Building Permits (2024)
🔨34,059
Price-to-Income
📊4.26x
Severe Rent Burden
⚠️14.5%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($1729) is above the state median rent ($1567) — vouchers cover typical rents.
Metros in Virginia
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Virginia Beach-Norfolk | 52 | $344K | $1,465 | $79K | 32.0% |
| Richmond | 52 | $136K | $825 | $52K | 31.0% |
| Roanoke | 81 | $258K | $1,087 | $66K | 17.0% |
| Lynchburg | 83 | $249K | $973 | $67K | 22.3% |
| Charlottesville | 73 | $431K | $1,540 | $92K | 25.7% |
| Blacksburg-Christiansburg-Radford | 83 | $227K | $1,101 | $61K | 22.6% |
| Winchester | 76 | $355K | $1,279 | $81K | 20.2% |
| Staunton-Stuarts Draft | 77 | $273K | $1,083 | $63K | 21.5% |
| Harrisonburg | 80 | $305K | $1,156 | $76K | 22.8% |
Market Trends
Homeownership Rate
68.0%
Rent-to-Income Ratio
21.0%
of gross income spent on rent
Total Households
3,402,670
Owner-Occupied
2,307,077
Renter-Occupied
1,095,593
Homelessness
Latest Count (2024)
7,141
1-Year Change
+5.6%
10-Year Trend (2015–2024)
+2.0%
7,001 → 7,141
Housing Policies
Construction Activity
Total Permits (2024)
34,059
2.4% of national total
Single-Family
22,796
67% of state permits
Multi-Family
11,263
33% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
120,000
units needed
National Shortage
7,300,000
1.6% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
Virginia burden rates with national demographic breakdown
Cost-Burdened Renters
31.0%
paying >30% of income
Severely Burdened
14.5%
paying >50% of income
Households >30% Burden
247,334
Households >35% Burden
70,855