Total monthly cost of ownership
Cost to Own a Home in Emory, Virginia
A $204,000 home here costs
$1,706per 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 $73,000 a year.
A standard mortgage calculator would have told you $1,112. The real number is $594 higher every month, 53% more than the payment most buyers budget for.
Compare Washington County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Emory from a five-year rolling sample, and with about 1,135 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 Washington 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.
Emory against Washington County and Virginia
| Measure | Emory | Washington County |
|---|---|---|
| Median home value | $203,800 | $201,800 |
| Median property tax | $1,479 | $1,038 |
| Effective tax rate | 0.726% | 0.514% |
| Median gross rent | — | $832 |
| Population | 1,135 | 53,913 |
The weather behind that power bill
Emory sits in Washington County, which averages a high of 84.7°F in its hottest month and a low of 24.1°F in its coldest, with 47.27" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 870 cooling and 4,610 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Washington County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Washington County
Full Washington County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Emory 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 Emory every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Emory?
A $204,000 home in Emory, Virginia costs approximately $1,706 per month with 20% down at 7.24%. That is $1,112 principal and interest, $123 property tax, $50 homeowners insurance, $250 utilities and $170 set aside for maintenance.
What is the property tax rate in Emory?
Emory has an effective property tax rate of 0.726%, based on a median home value of $203,800 and median real estate taxes of $1,479. That is higher than the Washington County average of 0.514%.
What is the average home price in Emory?
The median owner-occupied home value in Emory, Virginia is $203,800, against $201,800 across Washington County.
Is it cheaper to rent or buy in Emory?
Rent data is not published for Emory at this level of detail.
What salary do you need to buy a home in Emory?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Emory, Virginia at today's rate takes a household income of roughly $73,000 a year. That covers the full $1,706 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Emory, 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.