Total monthly cost of ownership
Cost to Own a Home in Bedford, Virginia
A $193,000 home here costs
$1,603per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $68,500 a year.
A standard mortgage calculator would have told you $1,052. The real number is $551 higher every month, 52% more than the payment most buyers budget for.
Compare Bedford County with anywhere in America · full county breakdown
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 $182 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
Talk to someone who works this market
These are Bedford averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Bedford every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Bedford I already own here and may sell
Common questions
How much does it cost to own a home in Bedford?
A $193,000 home in Bedford, Virginia costs approximately $1,603 per month with 20% down at 7.24%. That is $1,052 principal and interest, $92 property tax, $47 homeowners insurance, $250 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 $1,603 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Bedford?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bedford, Virginia at today's rate takes a household income of roughly $68,500 a year. That covers the full $1,603 monthly cost, not just the mortgage payment.
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.