Total monthly cost of ownership
Cost to Own a Home in Colonial Beach, Virginia
A $243,000 home here costs
$1,934per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,249. The real number is $685 higher every month — 55% 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.
Colonial Beach against Westmoreland County and Virginia
| Measure | Colonial Beach | Westmoreland County |
|---|---|---|
| Median home value | $242,800 | $244,000 |
| Median property tax | $2,351 | $1,506 |
| Effective tax rate | 0.968% | 0.617% |
| Median gross rent | $763 | $991 |
| Population | 3,930 | 18,683 |
The weather behind that power bill
Colonial Beach sits in Westmoreland County, which averages a high of 88.4°F in its hottest month and a low of 28.5°F in its coldest, with 45.19" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,416 cooling and 3,880 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Westmoreland County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Westmoreland County
No other places of this size are published in Westmoreland County.
Full Westmoreland County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Colonial Beach?
A $243,000 home in Colonial Beach, Virginia costs approximately $1,934 per month with 20% down at 6.66%. That is $1,249 principal and interest, $196 property tax, $60 homeowners insurance, $226 utilities and $203 set aside for maintenance.
What is the property tax rate in Colonial Beach?
Colonial Beach has an effective property tax rate of 0.968%, based on a median home value of $242,800 and median real estate taxes of $2,351. That is higher than the Westmoreland County average of 0.617%.
What is the average home price in Colonial Beach?
The median owner-occupied home value in Colonial Beach, Virginia is $242,800, against $244,000 across Westmoreland County.
Is it cheaper to rent or buy in Colonial Beach?
Median gross rent in Colonial Beach is $763 a month, against $1,934 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 Colonial Beach — 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.