Total monthly cost of ownership
Cost to Own a Home in Bridgewater, Virginia
A $372,000 home here costs
$2,827per 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 $121,000 a year.
A standard mortgage calculator would have told you $2,028. The real number is $799 higher every month, 39% more than the payment most buyers budget for.
Compare Rockingham 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.
Bridgewater against Rockingham County and Virginia
| Measure | Bridgewater | Rockingham County |
|---|---|---|
| Median home value | $372,400 | $287,900 |
| Median property tax | $1,773 | $1,532 |
| Effective tax rate | 0.476% | 0.532% |
| Median gross rent | $1,141 | $1,125 |
| Population | 6,650 | 84,739 |
The weather behind that power bill
Bridgewater sits in Rockingham County, which averages a high of 86.0°F in its hottest month and a low of 22.7°F in its coldest, with 39" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 947 cooling and 5,061 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Rockingham County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Rockingham County
Full Rockingham County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Bridgewater 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 Bridgewater every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Bridgewater I already own here and may sell
Common questions
How much does it cost to own a home in Bridgewater?
A $372,000 home in Bridgewater, Virginia costs approximately $2,827 per month with 20% down at 7.24%. That is $2,028 principal and interest, $148 property tax, $91 homeowners insurance, $250 utilities and $310 set aside for maintenance.
What is the property tax rate in Bridgewater?
Bridgewater has an effective property tax rate of 0.476%, based on a median home value of $372,400 and median real estate taxes of $1,773. That is lower than the Rockingham County average of 0.532%.
What is the average home price in Bridgewater?
The median owner-occupied home value in Bridgewater, Virginia is $372,400, against $287,900 across Rockingham County.
Is it cheaper to rent or buy in Bridgewater?
Median gross rent in Bridgewater is $1,141 a month, against $2,827 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 Bridgewater?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bridgewater, Virginia at today's rate takes a household income of roughly $121,000 a year. That covers the full $2,827 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bridgewater, 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.