Total monthly cost of ownership
Cost to Own a Home in Herndon, Virginia
A $569,000 home here costs
$4,489per 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 $192,500 a year.
A standard mortgage calculator would have told you $3,102. The real number is $1,387 higher every month, 45% more than the payment most buyers budget for.
Compare Fairfax County 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.
Herndon against Fairfax County and Virginia
| Measure | Herndon | Fairfax County |
|---|---|---|
| Median home value | $568,700 | $699,700 |
| Median property tax | $6,272 | $7,072 |
| Effective tax rate | 1.103% | 1.011% |
| Median gross rent | $2,147 | $2,230 |
| Population | 24,529 | 1,144,474 |
Herndon extends across 2 counties. Figures here use Fairfax County, where most of its housing sits.
The weather behind that power bill
Herndon sits in Fairfax County, which averages a high of 83.8°F in its hottest month and a low of 23.4°F in its coldest, with 43.57" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 964 cooling and 4,931 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Fairfax County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fairfax County
Full Fairfax County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Herndon 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 Herndon every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Herndon I already own here and may sell
Common questions
How much does it cost to own a home in Herndon?
A $569,000 home in Herndon, Virginia costs approximately $4,489 per month with 20% down at 7.24%. That is $3,102 principal and interest, $523 property tax, $140 homeowners insurance, $250 utilities and $474 set aside for maintenance.
What is the property tax rate in Herndon?
Herndon has an effective property tax rate of 1.103%, based on a median home value of $568,700 and median real estate taxes of $6,272. That is higher than the Fairfax County average of 1.011%.
What is the average home price in Herndon?
The median owner-occupied home value in Herndon, Virginia is $568,700, against $699,700 across Fairfax County.
Is it cheaper to rent or buy in Herndon?
Median gross rent in Herndon is $2,147 a month, against $4,489 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 Herndon?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Herndon, Virginia at today's rate takes a household income of roughly $192,500 a year. That covers the full $4,489 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Herndon, 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.