In Sept. 2020, the median home sale price in Virginia was $354,400. As of Sept. 2023, that figure had risen to $412,800, a 16% increase, according to Redfin. Renters are also paying more in Virginia. At the end of 2020, the average cost of rent in the commonwealth was $1,660. As of Nov. 2023, that figure has risen to $1,946, a 17% increase.