Total monthly cost of ownership
Cost to Own a Home in Falmouth, Virginia
A $423,000 home here costs
$3,181per 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 $136,500 a year.
A standard mortgage calculator would have told you $2,306. The real number is $875 higher every month, 38% more than the payment most buyers budget for.
Compare Stafford 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.
Falmouth against Stafford County and Virginia
| Measure | Falmouth | Stafford County |
|---|---|---|
| Median home value | $422,500 | $458,800 |
| Median property tax | $2,018 | $3,301 |
| Effective tax rate | 0.478% | 0.719% |
| Median gross rent | $1,972 | $1,925 |
| Population | 5,036 | 160,520 |
The weather behind that power bill
Falmouth sits in Stafford County, which averages a high of 88.0°F in its hottest month and a low of 28.3°F in its coldest, with 41.03" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,512 cooling and 4,002 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Stafford County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Stafford County
Full Stafford County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Falmouth 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 Falmouth every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Falmouth I already own here and may sell
Common questions
How much does it cost to own a home in Falmouth?
A $423,000 home in Falmouth, Virginia costs approximately $3,181 per month with 20% down at 7.24%. That is $2,306 principal and interest, $168 property tax, $104 homeowners insurance, $250 utilities and $353 set aside for maintenance.
What is the property tax rate in Falmouth?
Falmouth has an effective property tax rate of 0.478%, based on a median home value of $422,500 and median real estate taxes of $2,018. That is lower than the Stafford County average of 0.719%.
What is the average home price in Falmouth?
The median owner-occupied home value in Falmouth, Virginia is $422,500, against $458,800 across Stafford County.
Is it cheaper to rent or buy in Falmouth?
Median gross rent in Falmouth is $1,972 a month, against $3,181 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 Falmouth?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Falmouth, Virginia at today's rate takes a household income of roughly $136,500 a year. That covers the full $3,181 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Falmouth, 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.