Market Overview
Home Prices in Petersburg, VA
The median home value in Petersburg, VA is $253,907 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.4% compared to a year ago and up 0.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Petersburg are priced38% below average. Petersburg is part of the Richmond, VA metro area.
Over the past five years, Petersburg home values have risen by approximately53.0%, reflecting strong long-term appreciation in this market.
Price History
Petersburg Home Price Trend
City Comparison
Petersburg vs. National Median
At $253,907, homes in Petersburg cost 38% below the national median of $410,000. This makes Petersburg a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Petersburg?
20% Down Payment
$50,781
on $253,907
Monthly P&I
$1,324/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,681/mo
incl. taxes & insurance
Income Needed
$67,240
gross annual (30% rule)
10% Down Option
$25,391
+ PMI applies
Loan Amount (20% dn)
$203,126
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Petersburg, VA?
The median home value in Petersburg is $253,907 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.4% year-over-year.
How much have home prices changed in Petersburg?
Over the past year, home values in Petersburg have increased by 2.4%. Over five years, prices have risen approximately 53.0%.
How much do I need to earn to buy a home in Petersburg?
To comfortably afford the median home price of $253,907 with a 20% down payment ($50,781) at today's rates (6.8%), you'd need a gross annual income of approximately $67,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Petersburg compare to the national average home price?
The national median home value is approximately $410,000. At $253,907, homes in Petersburg are 38% below the national average.
What metro area is Petersburg part of?
Petersburg is part of the Richmond, VA metropolitan area. Home prices and market conditions can vary across the broader metro region.