Virginia Homeowners Pay Some of the Lowest Insurance Costs In The Country

Virginia homeowners pay some of the lowest home insurance premiums in the Mid-Atlantic, even though the state faces significant coastal exposure.

While costs in the Gulf Coast and Florida are among the nation’s highest, new data from the U.S. Census Bureau and the 2025 Climate Risk Report show that Virginia households remain relatively insulated from the steepest affordability pressures.

Virginia’s Insurance Costs Stay Affordable

According to the American Community Survey (ACS) data from the U.S. Census Bureau, Virginia homeowners with a mortgage typically pay $1,000–$1,499 annually for homeowners insurance, while those without a mortgage average the same $1,000–$1,499. Overall statewide costs also fall into the $1,000–$1,499 range.

Virginia has 2,315,258 insured homeowner households in total—1,522,866 with a mortgage and 792,392 without. Among mortgaged owners, 133,536 pay less than $100 annually and 81,456 pay $4,000 or more. Among those without a mortgage, 138,801 pay less than $100 and 32,514 pay $4,000 or more.

Compared with nearby states, Virginia is among the most affordable. Maryland homeowners with a mortgage also average $1,000–$1,499, while Pennsylvania’s non-mortgaged households pay even less, at $800–$999. North Carolina falls into the $1,000–$1,499 range, while Delaware is slightly cheaper for non-mortgaged households, averaging $800–$999. By contrast, New Jersey and New York homeowners with a mortgage average $1,000–$1,499, keeping Virginia in line with its Mid-Atlantic peers.

Climate Risks Across the Region

The Climate Risk Report highlights how climate exposure drives premiums higher in vulnerable states. Miami leads the U.S., with homeowners paying an average of $22,718 annually, or 3.7% of median home value. Other Florida metros, such as Cape Coral, Sarasota, and Tampa , also rank among the most expensive.

Virginia does not appear in the report’s list of metros with the steepest insurance burdens, but climate risks remain a factor. Coastal areas such as Virginia Beach, Norfolk, and Hampton Roads face flooding and hurricane winds, while inland communities are more shielded. For now, these risks have not pushed statewide premiums into higher tiers, but they remain a long-term concern.

A National Affordability Challenge

Even though Virginia’s costs are relatively low, affordability remains a growing issue across the country. The Realtor.com 2025 Insurance Affordability Report found that 75% of Americans believe homeowners insurance could soon become unaffordable, while nearly half said they had already experienced difficulties renewing or obtaining coverage.

These affordability concerns are also influencing homebuying behavior. Nearly 30% of homebuyers said they had completely changed the areas where they were searching because of insurance costs, while another quarter said they had overhauled their strategies altogether. A recent analysis of migration patterns shows that some buyers are actively relocating to markets with lower premiums, reshaping housing demand across the country.

Even more concerning, 58% of homeowners nationwide said they would consider dropping coverage altogether if premiums rose too high, with younger buyers especially likely to take that risk.

Virginia’s Outlook

For now, Virginia homeowners benefit from affordability compared with national hot spots. Still, with climate risks increasing along the Atlantic coast, residents may want to use a home insurance comparison tool to evaluate coverage options. While Virginia enjoys relatively low costs today, insurance premiums could face more upward pressure in the years ahead.

This article was produced with editorial input from Dina Sartore-Bodo, Gabriella Iannetta, and Allaire Conte.