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Charlottesville, VA mortgage & affordability calculator

The typical home in Charlottesville, VA is worth about $470,000. With 20% down that's a loan near $376,000 — the calculator is pre-filled with that figure. The University of Virginia anchors Charlottesville's economy and keeps home prices well above the rest of central Virginia, with steady demand from faculty, staff, and a large student-adjacent rental market. Albemarle County's growth-area restrictions limit new construction, adding to the upward price pressure.

$2,441.23 / month

Total interest
$502,841
Total paid
$878,841
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$94k$188k$282k$376k0612182430Year

How much you need to earn

Charlottesville, VA's median household income is about $78,000 a year. Under standard 28/36 lending rules that supports a home price around $305,073 with 20% down — below the $470,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$305,009 max home price

Max loan amount
$211,009
Housing payment budget
$1,820
P&I budget
$1,370
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Charlottesville, VA is about $1,900 a month, so owning the median home costs roughly $991 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Charlottesville, VA?
On the metro's roughly $470,000 typical home with 20% down, the loan is about $376,000. Principal and interest run near $2,441 a month at today's rate, and Charlottesville, VA's property tax plus insurance add about $450, for a full payment near $2,891.
Can I afford a home in Charlottesville, VA on the median income?
The median household income is about $78,000 a year. Under standard 28/36 lending rules that supports a home price around $305,073 with 20% down — below the $470,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Charlottesville, VA?
Typical asking rent is about $1,900 a month. The full owner payment on a median home is near $2,891, so owning costs roughly $991 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Charlottesville, VA?
The effective property tax rate in the core county is about 0.85% of market value — roughly $3,995 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Charlottesville, VA rising or falling?
Home values are up about 3% over the past year. The University of Virginia anchors Charlottesville's economy and keeps home prices well above the rest of central Virginia, with steady demand from faculty, staff, and a large student-adjacent rental market. Albemarle County's growth-area restrictions limit new construction, adding to the upward price pressure.

Nearby metros

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