Total monthly cost of ownership
Cost to Own a Home in Fredericksburg, Virginia
A $462,000 home here costs
$3,505per 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 $150,000 a year.
A standard mortgage calculator would have told you $2,519. The real number is $987 higher every month, 39% more than the payment most buyers budget for.
Compare Fredericksburg city 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.
Fredericksburg against Fredericksburg city and Virginia
| Measure | Fredericksburg | Fredericksburg city |
|---|---|---|
| Median home value | $461,500 | $461,500 |
| Median property tax | $2,853 | $2,853 |
| Effective tax rate | 0.618% | 0.618% |
| Median gross rent | $1,521 | $1,521 |
| Population | 28,383 | 28,383 |
The weather behind that power bill
Fredericksburg sits in Fredericksburg city, which averages a high of 88.5°F in its hottest month and a low of 25.1°F in its coldest, with 43.4" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,336 cooling and 4,300 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Fredericksburg city , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fredericksburg city
No other places of this size are published in Fredericksburg city.
Full Fredericksburg city cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Fredericksburg 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 Fredericksburg every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Fredericksburg I already own here and may sell
Common questions
How much does it cost to own a home in Fredericksburg?
A $462,000 home in Fredericksburg, Virginia costs approximately $3,505 per month with 20% down at 7.24%. That is $2,519 principal and interest, $238 property tax, $114 homeowners insurance, $250 utilities and $385 set aside for maintenance.
What is the property tax rate in Fredericksburg?
Fredericksburg has an effective property tax rate of 0.618%, based on a median home value of $461,500 and median real estate taxes of $2,853. That is in line with the Fredericksburg city average of 0.618%.
What is the average home price in Fredericksburg?
The median owner-occupied home value in Fredericksburg, Virginia is $461,500, against $461,500 across Fredericksburg city.
Is it cheaper to rent or buy in Fredericksburg?
Median gross rent in Fredericksburg is $1,521 a month, against $3,505 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 Fredericksburg?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Fredericksburg, Virginia at today's rate takes a household income of roughly $150,000 a year. That covers the full $3,505 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Fredericksburg, 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.