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Counties with the lowest home prices in Virginia

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June 8, 2021
Smash the Iron Cage // Wikimedia Commons

Counties with the lowest home prices in Virginia

The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.

But all things are not equal when it comes to real estate in the United States.

Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Virginia. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.

The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency’s House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.

Keep reading to discover which county in Virginia has the lowest home prices.

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Carol M. Highsmith // Wikimedia Commons

#30. Buena Vista city

- Monthly mortgage payment in 2020: $503 (4.6% less than 2019)
- Monthly mortgage payment in 2019: $527
- Median home value in 2020: $135,800
- Ranked #1,538 out of 3,120 counties nationwide
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Puddin Tain // Wikimedia Commons

#29. Sussex County

- Monthly mortgage payment in 2020: $492 (10.7% less than 2019)
- Monthly mortgage payment in 2019: $551
- Median home value in 2020: $132,900
- Ranked #1,486 out of 3,120 counties nationwide
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Nyttend // Wikimedia Commons

#28. Hopewell city

- Monthly mortgage payment in 2020: $481 (8.0% less than 2019)
- Monthly mortgage payment in 2019: $523
- Median home value in 2020: $129,900
- Ranked #1,432 out of 3,120 counties nationwide
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Jquesen2003 // Wikimedia Commons

#27. Patrick County

- Monthly mortgage payment in 2020: $477 (5.0% less than 2019)
- Monthly mortgage payment in 2019: $502
- Median home value in 2020: $128,700
- Ranked #1,404 out of 3,120 counties nationwide
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Skye Marthaler // Wikimedia Commons

#26. Giles County

- Monthly mortgage payment in 2020: $476 (11.2% less than 2019)
- Monthly mortgage payment in 2019: $536
- Median home value in 2020: $128,500
- Ranked #1,401 out of 3,120 counties nationwide
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Jarek Tuszyński // Wikimedia Commons

#25. Alleghany County

- Monthly mortgage payment in 2020: $475 (5.6% less than 2019)
- Monthly mortgage payment in 2019: $503
- Median home value in 2020: $128,400
- Ranked #1,395 out of 3,120 counties nationwide
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Rhyssdavies // Wikimedia Commons

#24. Lunenburg County

- Monthly mortgage payment in 2020: $475 (5.2% less than 2019)
- Monthly mortgage payment in 2019: $501
- Median home value in 2020: $128,200
- Ranked #1,394 out of 3,120 counties nationwide
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Taber Andrew Bain // Wikimedia Commons

#23. Greensville County

- Monthly mortgage payment in 2020: $467 (12.3% greater than 2019)
- Monthly mortgage payment in 2019: $416
- Median home value in 2020: $126,300
- Ranked #1,359 out of 3,120 counties nationwide
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DanTD // Wikimedia Commons

#22. Emporia city

- Monthly mortgage payment in 2020: $464 (13.1% less than 2019)
- Monthly mortgage payment in 2019: $534
- Median home value in 2020: $125,300
- Ranked #1,338 out of 3,120 counties nationwide
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vastateparksstaff // Wikimedia Commons

#21. Halifax County

- Monthly mortgage payment in 2020: $461 (5.3% less than 2019)
- Monthly mortgage payment in 2019: $487
- Median home value in 2020: $124,500
- Ranked #1,324 out of 3,120 counties nationwide
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Skye Marthaler // Wikimedia Commons

#20. Bland County

- Monthly mortgage payment in 2020: $450 (1.8% greater than 2019)
- Monthly mortgage payment in 2019: $442
- Median home value in 2020: $121,400
- Ranked #1,233 out of 3,120 counties nationwide
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Ceh2624 // Wikimedia Commons

#19. Carroll County

- Monthly mortgage payment in 2020: $448 (4.9% less than 2019)
- Monthly mortgage payment in 2019: $471
- Median home value in 2020: $121,100
- Ranked #1,224 out of 3,120 counties nationwide
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Jerrye & Roy Klotz, MD // Wikimedia Commons

#18. Brunswick County

- Monthly mortgage payment in 2020: $446 (6.7% less than 2019)
- Monthly mortgage payment in 2019: $478
- Median home value in 2020: $120,400
- Ranked #1,204 out of 3,120 counties nationwide
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Ser Amantio di Nicolao // Wikimedia Commons

#17. Charlotte County

- Monthly mortgage payment in 2020: $444 (4.3% less than 2019)
- Monthly mortgage payment in 2019: $464
- Median home value in 2020: $120,000
- Ranked #1,195 out of 3,120 counties nationwide
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Aplomado~commonswiki // Wikimedia Commons

#16. Bristol city

- Monthly mortgage payment in 2020: $431 (14.7% less than 2019)
- Monthly mortgage payment in 2019: $505
- Median home value in 2020: $116,300
- Ranked #1,111 out of 3,120 counties nationwide
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Nyttend // Wikimedia Commons

#15. Petersburg city

- Monthly mortgage payment in 2020: $423 (10.4% less than 2019)
- Monthly mortgage payment in 2019: $472
- Median home value in 2020: $114,200
- Ranked #1,064 out of 3,120 counties nationwide
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Calstanhope // Wikimedia Commons

#14. Grayson County

- Monthly mortgage payment in 2020: $409 (0.5% less than 2019)
- Monthly mortgage payment in 2019: $411
- Median home value in 2020: $110,400
- Ranked #978 out of 3,120 counties nationwide
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Brian Stansberry // Wikimedia Commons

#13. Tazewell County

- Monthly mortgage payment in 2020: $396 (3.6% less than 2019)
- Monthly mortgage payment in 2019: $411
- Median home value in 2020: $106,900
- Ranked #879 out of 3,120 counties nationwide
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Doug Kerr // Wikimedia Commons

#12. Russell County

- Monthly mortgage payment in 2020: $389 (6.9% less than 2019)
- Monthly mortgage payment in 2019: $418
- Median home value in 2020: $105,100
- Ranked #830 out of 3,120 counties nationwide
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Cyoung9 // Wikimedia Commons

#11. Galax city

- Monthly mortgage payment in 2020: $384 (11.9% less than 2019)
- Monthly mortgage payment in 2019: $436
- Median home value in 2020: $103,600
- Ranked #795 out of 3,120 counties nationwide
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JERRYE & ROY KLOTZ MD // Wikimedia Commons

#10. Smyth County

- Monthly mortgage payment in 2020: $381 (7.1% less than 2019)
- Monthly mortgage payment in 2019: $410
- Median home value in 2020: $102,800
- Ranked #773 out of 3,120 counties nationwide
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Nyttend // Wikimedia Commons

#9. Henry County

- Monthly mortgage payment in 2020: $373 (8.4% less than 2019)
- Monthly mortgage payment in 2019: $407
- Median home value in 2020: $100,700
- Ranked #722 out of 3,120 counties nationwide
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Betcantrell // Wikimedia Commons

#8. Norton city

- Monthly mortgage payment in 2020: $373 (5.8% less than 2019)
- Monthly mortgage payment in 2019: $396
- Median home value in 2020: $100,600
- Ranked #717 out of 3,120 counties nationwide
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Skye Marthaler // Wikimedia Commons

#7. Scott County

- Monthly mortgage payment in 2020: $366 (13.9% less than 2019)
- Monthly mortgage payment in 2019: $425
- Median home value in 2020: $98,700
- Ranked #672 out of 3,120 counties nationwide
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pfly // Wikimedia Commons

#6. Lee County

- Monthly mortgage payment in 2020: $350 (7.9% less than 2019)
- Monthly mortgage payment in 2019: $380
- Median home value in 2020: $94,500
- Ranked #584 out of 3,120 counties nationwide
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Sleddog116 // Wikimedia Commons

#5. Martinsville city

- Monthly mortgage payment in 2020: $348 (7.2% less than 2019)
- Monthly mortgage payment in 2019: $375
- Median home value in 2020: $94,100
- Ranked #567 out of 3,120 counties nationwide
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Skye Marthaler // Wikimedia Commons

#4. Wise County

- Monthly mortgage payment in 2020: $340 (8.1% less than 2019)
- Monthly mortgage payment in 2019: $370
- Median home value in 2020: $91,700
- Ranked #504 out of 3,120 counties nationwide
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Nathan Yates // Wikimedia Commons

#3. Dickenson County

- Monthly mortgage payment in 2020: $322 (1.5% less than 2019)
- Monthly mortgage payment in 2019: $327
- Median home value in 2020: $86,900
- Ranked #382 out of 3,120 counties nationwide
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Smash the Iron Cage // Wikimedia Commons

#2. Covington city

- Monthly mortgage payment in 2020: $290 (9.4% less than 2019)
- Monthly mortgage payment in 2019: $320
- Median home value in 2020: $78,200
- Ranked #189 out of 3,120 counties nationwide
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Tburgess68 // Wikimedia Commons

#1. Buchanan County

- Monthly mortgage payment in 2020: $287 (6.2% less than 2019)
- Monthly mortgage payment in 2019: $306
- Median home value in 2020: $77,600
- Ranked #182 out of 3,120 counties nationwide
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