Total monthly cost of ownership
Cost to Own a Home in Gloucester Courthouse, Virginia
A $342,000 home here costs
$2,641per 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 $113,000 a year.
A standard mortgage calculator would have told you $1,865. The real number is $776 higher every month, 42% more than the payment most buyers budget for.
Compare Gloucester County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Gloucester Courthouse from a five-year rolling sample, and with about 3,509 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 Gloucester 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.
Gloucester Courthouse against Gloucester County and Virginia
| Measure | Gloucester Courthouse | Gloucester County |
|---|---|---|
| Median home value | $342,000 | $289,200 |
| Median property tax | $1,888 | $1,718 |
| Effective tax rate | 0.552% | 0.594% |
| Median gross rent | $1,049 | $1,144 |
| Population | 3,509 | 39,228 |
The weather behind that power bill
Gloucester Courthouse sits in Gloucester County, which averages a high of 84.8°F in its hottest month and a low of 29.4°F in its coldest, with 51.94" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,287 cooling and 3,944 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Gloucester County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Gloucester County
Full Gloucester County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Gloucester Courthouse 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 Gloucester Courthouse every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Gloucester Courthouse I already own here and may sell
Common questions
How much does it cost to own a home in Gloucester Courthouse?
A $342,000 home in Gloucester Courthouse, Virginia costs approximately $2,641 per month with 20% down at 7.24%. That is $1,865 principal and interest, $157 property tax, $84 homeowners insurance, $250 utilities and $285 set aside for maintenance.
What is the property tax rate in Gloucester Courthouse?
Gloucester Courthouse has an effective property tax rate of 0.552%, based on a median home value of $342,000 and median real estate taxes of $1,888. That is lower than the Gloucester County average of 0.594%.
What is the average home price in Gloucester Courthouse?
The median owner-occupied home value in Gloucester Courthouse, Virginia is $342,000, against $289,200 across Gloucester County.
Is it cheaper to rent or buy in Gloucester Courthouse?
Median gross rent in Gloucester Courthouse is $1,049 a month, against $2,641 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 Gloucester Courthouse?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Gloucester Courthouse, Virginia at today's rate takes a household income of roughly $113,000 a year. That covers the full $2,641 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Gloucester Courthouse, 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.