30 Year Fixed
- 3.41 %
15 Year Fixed
- 2.84 %
1-Year ARM
- 4.06 %
5/1 ARM
- 2.81 %
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Guide to Virginia Mortgages

Virginia

Virginia is located in the Southern area of the United States and is the 35th largest state in the Nation by area. It is nicknamed the “Mother of Presidents.”

The state’s total population is around 7,642,884 which make it the 12th most populated state in the nation. Its demographics are as follows; 74.94% Caucasian; 20.65% African American; 0.74% American Indian; 5.20% Asian American; 0.16% Mixed. The economy for this state is based on coal, tobacco, dairy, software, telecommunications and consulting to name a few.  Forbes Magazine has named Virginia as the best state in the nation for business. Virginia’s gross state product is estimated at $383 billion, with a median income of $59,563 ranking it 14th in the U.S..

Fairfax County is the most populated city in the state of Virginia. The state also has the fastest growing county in the U.S. with Loudon County which also has the capital city of Leesburg within its borders.

Virginia has a humid subtropical climate and is in danger from hurricanes during the summer season.  Thunderstorms happen on a regular basis with the state averaging about 45 per year. About 85 tornadoes occur in the western area of the state per year.

 

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Virginia Housing Statistics
VirginiaUSA
Total Housing2,904,192121,699,874
Total Urban2,074,59694,464,240
Total Rural829,59627,235,633
Occupied2,699,173110,754,106
Vacant205,01910,945,767
Owner Occupied1,837,93973,306,541
Renter Occupied861,23437,447,565
Vacant for Rent47,5632,745,385
Vacant for Sale27,4071,264,534
 
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