Total monthly cost of ownership
Cost to Own a Home in Bedford, Virginia
A $193,000 home here costs
$1,519per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $992. The real number is $527 higher every month — 53% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bedford against Bedford County and Virginia
| Measure | Bedford | Bedford County |
|---|---|---|
| Median home value | $192,600 | $276,600 |
| Median property tax | $1,105 | $1,265 |
| Effective tax rate | 0.574% | 0.457% |
| Median gross rent | $876 | $955 |
| Population | 6,703 | 80,254 |
The weather behind that power bill
Bedford sits in Bedford County, which averages a high of 86.4°F in its hottest month and a low of 27.8°F in its coldest, with 46.31" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,162 cooling and 4,062 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Bedford County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bedford County
Full Bedford County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Bedford?
A $193,000 home in Bedford, Virginia costs approximately $1,519 per month with 20% down at 6.66%. That is $992 principal and interest, $92 property tax, $47 homeowners insurance, $226 utilities and $161 set aside for maintenance.
What is the property tax rate in Bedford?
Bedford has an effective property tax rate of 0.574%, based on a median home value of $192,600 and median real estate taxes of $1,105. That is higher than the Bedford County average of 0.457%.
What is the average home price in Bedford?
The median owner-occupied home value in Bedford, Virginia is $192,600, against $276,600 across Bedford County.
Is it cheaper to rent or buy in Bedford?
Median gross rent in Bedford is $876 a month, against $1,519 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bedford — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Virginia.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.