Total monthly cost of ownership
Cost to Own a Home in Harrisonburg, Virginia
A $278,000 home here costs
$2,270per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $97,500 a year.
A standard mortgage calculator would have told you $1,540. The real number is $730 higher every month, 47% more than the payment most buyers budget for.
Compare Harrisonburg 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.
Harrisonburg against Harrisonburg city and Virginia
| Measure | Harrisonburg | Harrisonburg city |
|---|---|---|
| Median home value | $278,200 | $278,200 |
| Median property tax | $2,172 | $2,172 |
| Effective tax rate | 0.781% | 0.781% |
| Median gross rent | $1,120 | $1,120 |
| Population | 51,492 | 51,492 |
The weather behind that power bill
Harrisonburg sits in Harrisonburg city, which averages a high of 86.0°F in its hottest month and a low of 22.7°F in its coldest, with 39" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 947 cooling and 5,061 heating degree days, which is what sets the $181 electricity line above.
See the full climate breakdown for Harrisonburg city , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Harrisonburg city
No other places of this size are published in Harrisonburg city.
Full Harrisonburg city cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Harrisonburg 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 Harrisonburg every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Harrisonburg I already own here and may sell
Common questions
How much does it cost to own a home in Harrisonburg?
A $278,000 home in Harrisonburg, Virginia costs approximately $2,270 per month with 20% down at 7.4%. That is $1,540 principal and interest, $181 property tax, $68 homeowners insurance, $249 utilities and $232 set aside for maintenance.
What is the property tax rate in Harrisonburg?
Harrisonburg has an effective property tax rate of 0.781%, based on a median home value of $278,200 and median real estate taxes of $2,172. That is in line with the Harrisonburg city average of 0.781%.
What is the average home price in Harrisonburg?
The median owner-occupied home value in Harrisonburg, Virginia is $278,200, against $278,200 across Harrisonburg city.
Is it cheaper to rent or buy in Harrisonburg?
Median gross rent in Harrisonburg is $1,120 a month, against $2,270 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 Harrisonburg?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Harrisonburg, Virginia at today's rate takes a household income of roughly $97,500 a year. That covers the full $2,270 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Harrisonburg, 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.