Total monthly cost of ownership
Cost to Own a Home in Central Garage, Virginia
A $277,000 home here costs
$2,181per 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 $93,500 a year.
A standard mortgage calculator would have told you $1,510. The real number is $670 higher every month, 44% more than the payment most buyers budget for.
Compare King William County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Central Garage from a five-year rolling sample, and with about 1,364 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The King William County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Central Garage against King William County and Virginia
| Measure | Central Garage | King William County |
|---|---|---|
| Median home value | $277,300 | $276,500 |
| Median property tax | $1,459 | $1,733 |
| Effective tax rate | 0.526% | 0.627% |
| Median gross rent | $1,173 | $1,246 |
| Population | 1,364 | 18,232 |
The weather behind that power bill
Central Garage sits in King William County, which averages a high of 88.4°F in its hottest month and a low of 29.4°F in its coldest, with 45.64" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,563 cooling and 3,610 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for King William County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in King William County
Full King William County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Central Garage 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 Central Garage every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Central Garage I already own here and may sell
Common questions
How much does it cost to own a home in Central Garage?
A $277,000 home in Central Garage, Virginia costs approximately $2,181 per month with 20% down at 7.24%. That is $1,510 principal and interest, $121 property tax, $68 homeowners insurance, $250 utilities and $231 set aside for maintenance.
What is the property tax rate in Central Garage?
Central Garage has an effective property tax rate of 0.526%, based on a median home value of $277,300 and median real estate taxes of $1,459. That is lower than the King William County average of 0.627%.
What is the average home price in Central Garage?
The median owner-occupied home value in Central Garage, Virginia is $277,300, against $276,500 across King William County.
Is it cheaper to rent or buy in Central Garage?
Median gross rent in Central Garage is $1,173 a month, against $2,181 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 Central Garage?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Central Garage, Virginia at today's rate takes a household income of roughly $93,500 a year. That covers the full $2,181 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Central Garage, 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.