Total monthly cost of ownership
Cost to Own a Home in King George, Virginia
A $331,000 home here costs
$2,554per 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 $109,500 a year.
A standard mortgage calculator would have told you $1,805. The real number is $750 higher every month, 42% more than the payment most buyers budget for.
Compare King George County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for King George from a five-year rolling sample, and with about 4,833 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 King George 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.
King George against King George County and Virginia
| Measure | King George | King George County |
|---|---|---|
| Median home value | $330,500 | $395,900 |
| Median property tax | $1,704 | $2,221 |
| Effective tax rate | 0.516% | 0.561% |
| Median gross rent | $1,494 | $1,426 |
| Population | 4,833 | 27,468 |
The weather behind that power bill
King George sits in King George County, which averages a high of 88.0°F in its hottest month and a low of 28.3°F in its coldest, with 41.03" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,512 cooling and 4,002 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for King George County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in King George County
Full King George County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are King George 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 King George every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in King George I already own here and may sell
Common questions
How much does it cost to own a home in King George?
A $331,000 home in King George, Virginia costs approximately $2,554 per month with 20% down at 7.24%. That is $1,805 principal and interest, $142 property tax, $81 homeowners insurance, $250 utilities and $276 set aside for maintenance.
What is the property tax rate in King George?
King George has an effective property tax rate of 0.516%, based on a median home value of $330,500 and median real estate taxes of $1,704. That is lower than the King George County average of 0.561%.
What is the average home price in King George?
The median owner-occupied home value in King George, Virginia is $330,500, against $395,900 across King George County.
Is it cheaper to rent or buy in King George?
Median gross rent in King George is $1,494 a month, against $2,554 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 King George?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in King George, Virginia at today's rate takes a household income of roughly $109,500 a year. That covers the full $2,554 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for King George, 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.