Total monthly cost of ownership
Cost to Own a Home in Falls Church, Virginia
A $1,005,000 home here costs
$7,311per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $5,167. The real number is $2,144 higher every month — 41% 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.
Falls Church against Falls Church city and Virginia
| Measure | Falls Church | Falls Church city |
|---|---|---|
| Median home value | $1,005,400 | $1,005,400 |
| Median property tax | $10,001 | $10,001 |
| Effective tax rate | 0.995% | 0.995% |
| Median gross rent | $2,205 | $2,205 |
| Population | 14,593 | 14,593 |
The weather behind that power bill
Falls Church sits in Falls Church city, which averages a high of 89.6°F in its hottest month and a low of 30.1°F in its coldest, with 41.82" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,738 cooling and 3,769 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Falls Church city — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Falls Church city
No other places of this size are published in Falls Church city.
Full Falls Church city cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Falls Church?
A $1,005,000 home in Falls Church, Virginia costs approximately $7,311 per month with 20% down at 6.66%. That is $5,167 principal and interest, $833 property tax, $247 homeowners insurance, $226 utilities and $838 set aside for maintenance.
What is the property tax rate in Falls Church?
Falls Church has an effective property tax rate of 0.995%, based on a median home value of $1,005,400 and median real estate taxes of $10,001. That is in line with the Falls Church city average of 0.995%.
What is the average home price in Falls Church?
The median owner-occupied home value in Falls Church, Virginia is $1,005,400, against $1,005,400 across Falls Church city.
Is it cheaper to rent or buy in Falls Church?
Median gross rent in Falls Church is $2,205 a month, against $7,311 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 Falls Church — 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.