Median household income in Virginia is $93,170 and median rent is $1,579 a month, per Census 2020 to 2024 estimates. Compare at least three written offers on APR and total cost, verify the lender's license with the Virginia Bureau of Financial Institutions, and never pay a fee before funding.
On this page
- Virginia by the numbers
- What the numbers mean for Virginia borrowers
- Largest places in Virginia
- More Virginia cities and towns
- Counties with the most residents
- How Virginia earns a living
- More context for Virginia budgets
- Checking a lender in Virginia
- Can Virginia residents use the questionnaire?
- Local guides in Virginia
- Frequently asked questions
Virginia by the numbers
Sixteen budget-related measures for Virginia, set against the national figure and ranked from highest to lowest among the 51 jurisdictions (Census Bureau ACS, 2020 to 2024).
| Indicator | Virginia | Nation | Rank of 51 |
|---|---|---|---|
| Median household income | $93,170 | $80,734 | 12th |
| Commutes of 45 minutes or longer | 18% | 17% | 10th |
| Working from home | 18% | 15% | 8th |
| Bachelor's degree or higher (age 25+) | 42% | 36% | 8th |
| Age, median | 39.0 | 38.9 | 27th |
| Gini index (inequality) | 0.471 | 0.483 | 21st |
| Share of households under $35,000 | 18% | 21% | 40th |
| Share of households at $100,000+ | 47% | 41% | 12th |
| People below the poverty line | 9.9% | 12.5% | 45th |
| Jobless rate, 5-year ACS | 4.3% | 5.2% | 36th |
| Rent, median gross (monthly) | $1,579 | $1,413 | 12th |
| Renters paying 30%+ of income on rent | 49% | 51% | 26th |
| Median home value | $383,700 | $332,700 | 17th |
| Homes owner-occupied | 67% | 65% | 27th |
| Mortgaged owners paying 30%+ on housing | 25% | 28% | 32nd |
| Home value to income ratio | 4.1x | 4.1x | 19th |
What the numbers mean for Virginia borrowers
Virginia posts an ACS unemployment rate of 4.3% and a poverty rate of 9.9%, compared with 5.2% and 12.5% for the country. If your job is seasonal or hourly, lenders may ask for more months of statements to see a steady pattern.
About 18% of households in Virginia take in less than $35,000 a year and 47% take in $100,000 or more; nationally the shares are 21% and 41%. Our partners generally look for at least $30,000 in yearly income from any regular source, so households near the bottom of that range may be better served by free options first.
Typical household income: $93,170 in Virginia, against $80,734 nationwide (12th highest of 51). What counts for an application is the income you can document, from wages, a pension, benefits or self-employment.
Long commutes of 45 minutes or more affect 18% of Virginia workers, which ranks 10th of 51. Working from home cuts commuting costs but can make income harder to document if you are a contractor.
Largest places in Virginia
Virginia's 12 biggest cities and towns by population, from the 2020 to 2024 ACS. Where we publish a local guide, the name links to it.
| Place | County | Residents | Median household income | Median gross rent | Typical home value |
|---|---|---|---|---|---|
| Virginia Beach | Virginia Beach city | 456,349 | $92,968 | $1,714 | $382,500 |
| Chesapeake | Chesapeake city | 252,583 | $95,373 | $1,586 | $378,400 |
| Arlington | Arlington County | 236,254 | $142,114 | $2,322 | $895,000 |
| Norfolk | Norfolk city | 233,596 | $66,109 | $1,321 | $289,900 |
| Richmond | Richmond city | 229,359 | $64,587 | $1,372 | $353,000 |
| Newport News | Newport News city | 184,216 | $69,634 | $1,339 | $260,600 |
| Alexandria | Alexandria city | 156,976 | $119,681 | $2,089 | $735,100 |
| Hampton | Hampton city | 137,557 | $69,621 | $1,427 | $245,700 |
| Suffolk | Suffolk city | 98,796 | $92,666 | $1,563 | $347,400 |
| Roanoke | Roanoke city | 98,355 | $55,378 | $996 | $190,500 |
| Portsmouth | Portsmouth city | 97,190 | $60,491 | $1,300 | $246,900 |
| Lynchburg | Lynchburg city | 79,497 | $57,947 | $1,073 | $229,800 |
Of the places the Census Bureau tracks in Virginia, 127 have 10,000 or more people and 16 have 50,000 or more. The income gap between towns is wide: among places over 20,000, McLean has the highest median at $250,001 and Danville the lowest at $44,423. Median rent in that group ranges from $836 in Danville to $3,422 in McLean.
More Virginia cities and towns
Continuing down the population list from Centreville to Fair Oaks.
| Community | Residents | Median income | Rent (median) |
|---|---|---|---|
| Centreville | 71,706 | $139,510 | $2,299 |
| Dale City | 71,016 | $111,994 | $1,876 |
| Reston | 64,414 | $148,710 | $2,231 |
| Harrisonburg | 51,392 | $62,254 | $1,184 |
| McLean | 49,627 | $250,001 | $3,422 |
| Tuckahoe | 49,183 | $102,264 | $1,536 |
| Leesburg | 49,171 | $145,205 | $2,105 |
| Lake Ridge | 46,049 | $127,154 | $2,033 |
| Ashburn | 46,026 | $154,978 | $2,455 |
| Blacksburg | 45,446 | $50,182 | $1,359 |
| Charlottesville | 45,437 | $74,824 | $1,540 |
| Burke | 44,029 | $185,818 | $2,894 |
| Woodbridge | 43,945 | $104,741 | $2,101 |
| Manassas | 42,976 | $113,590 | $1,850 |
| Danville | 42,214 | $44,423 | $836 |
| Linton Hall | 41,876 | $178,915 | $2,575 |
| Annandale | 41,705 | $116,263 | $1,933 |
| Mechanicsville | 38,683 | $98,595 | $1,724 |
| Oakton | 36,528 | $160,663 | $2,276 |
| Fair Oaks | 35,545 | $123,947 | $2,275 |
Measured as a year of median rent against median household income, housing weighs most in Blacksburg (32%) and least in McLean (16%) among these 20 places.
Counties with the most residents
Of 133 counties in Virginia, these 16 have the most people.
| County | Residents | Median income | Median rent | Typical home value |
|---|---|---|---|---|
| Fairfax County | 1,147,837 | $153,637 | $2,276 | $732,800 |
| Prince William County | 488,880 | $131,402 | $2,067 | $530,100 |
| Virginia Beach city | 456,349 | $92,968 | $1,714 | $382,500 |
| Loudoun County | 432,998 | $181,765 | $2,386 | $743,800 |
| Chesterfield County | 377,869 | $101,931 | $1,629 | $366,000 |
| Henrico County | 335,744 | $88,783 | $1,541 | $359,200 |
| Chesapeake city | 252,583 | $95,373 | $1,586 | $378,400 |
| Arlington County | 236,254 | $142,114 | $2,322 | $895,000 |
| Norfolk city | 233,596 | $66,109 | $1,321 | $289,900 |
| Richmond city | 229,359 | $64,587 | $1,372 | $353,000 |
| Newport News city | 184,216 | $69,634 | $1,339 | $260,600 |
| Stafford County | 163,466 | $137,807 | $2,020 | $485,100 |
| Alexandria city | 156,976 | $119,681 | $2,089 | $735,100 |
| Spotsylvania County | 146,603 | $112,738 | $1,779 | $404,900 |
| Hampton city | 137,557 | $69,621 | $1,427 | $245,700 |
| Albemarle County | 114,919 | $104,392 | $1,692 | $495,400 |
Across all 133 counties, median household income ranges from $38,675 in Galax city to $181,765 in Loudoun County. That spread is a reminder to size a payment to your own budget, not to a state average.
How Virginia earns a living
The jobs mix in Virginia: the four largest industries by share of employed residents 16 and older.
| Industry | Share of Virginia workers | National share | Difference |
|---|---|---|---|
| Education, health care and social assistance | 22% | 24% | -1.2 pts |
| Professional, scientific and administrative services | 17% | 13% | +4.2 pts |
| Retail trade | 10% | 11% | -1.0 pts |
| Public administration | 9% | 5% | +4.1 pts |
Compared with the country, Virginia leans most toward professional, scientific and administrative services, at 17% of workers against 13% nationally. Pay rhythm differs by industry. Shift and seasonal work swings month to month, so size a payment to your slowest normal month.
More context for Virginia budgets
Rent is a pressure point for 49% of Virginia renter households, who spend 30 percent or more of income on it (U.S.: 51%). Median gross rent is $1,579 a month, 12th highest among the 51. A moving or deposit loan is common among renters; compare it with a payment plan from the landlord or utility first.
Homeownership stands at 67% in Virginia and the median owner-occupied home is worth $383,700, which ranks 17th among the 51 jurisdictions. The owner cost burden rate, for households with a mortgage, is 25%. An unsecured loan keeps the house out of the deal, which is worth something even when a home-equity line is cheaper.
Education and age round out the picture: 42% of Virginia adults have at least a bachelor's degree (U.S.: 36%), the median age is 39.0, and the Gini index is 0.471.
Checking a lender in Virginia
The Virginia Bureau of Financial Institutions is Virginia's state banking agency in the CSBS directory. Start there, or with NMLS Consumer Access, whenever a lender you have not heard of reaches out.
- Confirm the license on NMLS Consumer Access before you upload documents.
- Report fee-first offers at ReportFraud.ftc.gov.
- CFPB complaints reach the lender and are tracked by a federal regulator.
Can Virginia residents use the questionnaire?
Partner coverage varies by state. If no lending partner is accepting Virginia matches yet, the questionnaire says so on the location step and offers an email waitlist instead of asking for anything else. The guides and calculators work for everyone.
Local guides in Virginia
Open a local guide for a closer look at your own city (11 in Virginia):
Frequently asked questions
How do I verify a lender in Virginia?
Start with the Virginia Bureau of Financial Institutions, Virginia's banking agency in the CSBS directory. You can also search a lender on NMLS Consumer Access and file complaints with the CFPB.
What do households in Virginia earn?
$93,170 a year in the 2020 to 2024 American Community Survey, 12th among the 50 states and DC; the national median is $80,734.
What is the median rent in Virginia?
$1,579 a month at the median, 12th of 51. 49% of Virginia renters are cost-burdened, against 51% nationwide.
How common are long commutes in Virginia?
18% of Virginia workers travel 45 minutes or more to work, against 17% nationally (ACS 2020 to 2024). Long drives raise fuel and repair costs, so build them into any loan budget.