Total monthly cost of ownership
Cost to Own a Home in Farmville, Virginia
A $224,000 home here costs
$1,713per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,152. The real number is $562 higher every month — 49% 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.
Farmville against Prince Edward County and Virginia
| Measure | Farmville | Prince Edward County |
|---|---|---|
| Median home value | $223,700 | $203,700 |
| Median property tax | $1,123 | $820 |
| Effective tax rate | 0.502% | 0.403% |
| Median gross rent | $865 | $898 |
| Population | 7,613 | 21,932 |
Farmville extends across 2 counties. Figures here use Prince Edward County, where most of its housing sits.
The weather behind that power bill
Farmville sits in Prince Edward County, which averages a high of 88.5°F in its hottest month and a low of 25.7°F in its coldest, with 44.47" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 1,341 cooling and 4,159 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Prince Edward County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Prince Edward County
No other places of this size are published in Prince Edward County.
Full Prince Edward County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Farmville?
A $224,000 home in Farmville, Virginia costs approximately $1,713 per month with 20% down at 6.66%. That is $1,152 principal and interest, $94 property tax, $55 homeowners insurance, $226 utilities and $187 set aside for maintenance.
What is the property tax rate in Farmville?
Farmville has an effective property tax rate of 0.502%, based on a median home value of $223,700 and median real estate taxes of $1,123. That is higher than the Prince Edward County average of 0.403%.
What is the average home price in Farmville?
The median owner-occupied home value in Farmville, Virginia is $223,700, against $203,700 across Prince Edward County.
Is it cheaper to rent or buy in Farmville?
Median gross rent in Farmville is $865 a month, against $1,713 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 Farmville — 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.