Virginia 4plexes: House Hacking in Virginia

Why Consider a 4plex in Virginia?

• Ongoing rental demand in Northern Virginia, Hampton Roads, and Richmond
• Ability to use FHA and other low-down-payment loans when owner-occupying
• A large military and government renter base around Hampton Roads and Northern Virginia
• A diverse state economy spanning government, defense, technology, and ports

Local Advantages

With about 8.9 million residents (U.S. Census Bureau estimates), Virginia is home to a broad renter base. The state's largest metro areas include Northern Virginia (part of the Washington metro area), Virginia Beach-Norfolk-Newport News, Richmond, and Roanoke.

Virginia landlord-tenant law is set out in the Virginia Residential Landlord and Tenant Act, which applies to most residential rentals statewide. Virginia has no statewide rent control, and the Act's notice and lease rules are a standard part of any Virginia rental plan.

Property taxes in Virginia are set locally and vary by county and city, so two nearby localities can have noticeably different tax bills. Insurance costs can be higher in coastal areas such as Hampton Roads, where storm exposure is a factor.

Financing a Virginia 4plex

If you plan to live in one unit, you may qualify for residential loan programs (including FHA) with lower down payments than commercial financing requires. FHA is a federal program, and FHA loan limits are set at the county level, not the state level, so the limit for a property depends on the county where it sits. A lender familiar with four-unit properties can walk through the owner-occupancy rules and the paperwork involved.

For down-payment assistance, check the state housing finance agency and local programs: whether a program allows four-unit properties varies by program, so confirm four-unit eligibility before counting on any particular program.

Eligible veterans and service members may also consider VA loans, a federal program, alongside FHA and conventional options; a lender can explain which programs fit a four-unit, owner-occupied purchase.

Loan and Down Payment Programs in Virginia

Virginia buyers have the full set of national low-down-payment routes for a four-unit purchase. An FHA loan covers owner-occupied one- to four-unit properties with 3.5% down for borrowers with a qualifying credit score of 580 or higher, with loan limits set at the county level, and a four-unit purchase must also pass FHA's self-sufficiency test (HUD loan programs). A VA loan works for eligible veterans, service members, and surviving spouses buying up to four units while occupying one as a primary residence, generally with no down payment (VA home loans). Standard conventional financing also covers an owner-occupied four-unit property, with mortgage insurance when the down payment is under 20% (Fannie Mae originating and underwriting). Fannie Mae HomeReady and Freddie Mac Home Possible add low-down-payment conventional paths: both cap qualifying income at 80% of area median income, HomeReady's 3% down payment applies to one-unit properties while two- to four-unit purchases are capped at 95% loan-to-value, and Home Possible lists one- to four-unit properties among its eligible types (Fannie Mae HomeReady; Freddie Mac Home Possible).

On the state side, Virginia Housing offers a Down Payment Assistance Grant that is a gift rather than a loan, for eligible first-time buyers: 2% of the lesser of the sales price or appraised value with a conventional first mortgage, or 2.5% with an FHA first mortgage, with a 1% minimum borrower contribution, and it cannot be combined with the Plus Second Mortgage or the Closing Cost Assistance Grant. Fourplex fit: unconfirmed. The official grant guidelines state that the property must meet first-mortgage requirements and be located in Virginia, but they state no unit count, and Virginia Housing's published conventional-loan summaries describe single-family homes and approved condos. Do not assume the grant layers onto a four-unit purchase; confirm four-unit eligibility with a Virginia Housing lender first. Note also that the guidelines reviewed were marked last revised in March 2021, so confirm the current terms as well. Source: Virginia Housing DPA Grant guidelines.

How Many Cities Are in Virginia?

Virginia has 38 independent cities. Virginia's cities are unusual: they are independent of counties and count as county-equivalents, rather than sitting inside a county the way cities do in most states. Virginia also has 190 incorporated towns, but those towns sit inside counties and are not counted as cities. Source: List of cities and counties in Virginia.

How Many Counties Are in Virginia?

Virginia has 95 counties, and together with its 38 independent cities that makes 133 county-equivalents statewide. A buyer comparing locations should remember that an "independent city" in Virginia is its own jurisdiction, not part of a surrounding county. Source: County statistics of the United States.

Fire Insurance Costs in Virginia

Bankrate's September 2025 figures list the average annual homeowners insurance premium in Virginia at $1,687 for a home with $300,000 in dwelling coverage, with flood and earthquake coverage excluded. Hurricane and coastal storm exposure along the Chesapeake Bay and the Atlantic coast is the main driver pushing Virginia's average above the national middle of the pack, and properties near the water tend to cost more to insure than inland ones. A statewide average is only a starting point: a four-unit building's actual premium depends on the property itself, its construction, and its exact location, so get quotes from an insurer for the specific property. Source: Bankrate homeowners insurance cost.

What to Look for in a Virginia Fourplex

• Strong rental comps in the immediate neighborhood
• Reasonable property condition and maintenance needs
• A layout that works for both owner-occupancy and tenants
• Realistic numbers after taxes, insurance, and expenses, including any coastal insurance costs

Get in Touch

Questions about house hacking with a 4plex? Start with the guides below, or reach us through our national contact channels. We do not offer local support in Virginia; the contacts below are national only.

• Get the Playbook
• How to Buy a 4plex
• House Hacking Guide
• Toll Free (national contact only): 1 (833) 4PLEXES
• Email: info@4plexes.com