Total monthly cost of ownership
Cost to Own a Home in Gloucester Courthouse, Virginia
A $342,000 home here costs
$2,511per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,758. The real number is $753 higher every month — 43% 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.
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 $158 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
Common questions
How much does it cost to own a home in Gloucester Courthouse?
A $342,000 home in Gloucester Courthouse, Virginia costs approximately $2,511 per month with 20% down at 6.66%. That is $1,758 principal and interest, $157 property tax, $84 homeowners insurance, $226 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 $2,511 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 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.