Total monthly cost of ownership
Cost to Own a Home in Oakton, Virginia
A $777,000 home here costs
$6,066per 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 $260,000 a year.
A standard mortgage calculator would have told you $4,304. The real number is $1,762 higher every month, 41% 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.
Oakton against Fairfax County and Virginia
| Measure | Oakton | Fairfax County |
|---|---|---|
| Median home value | $776,700 | $699,700 |
| Median property tax | $8,089 | $7,072 |
| Effective tax rate | 1.041% | 1.011% |
| Median gross rent | $2,333 | $2,230 |
| Population | 36,776 | 1,144,474 |
The weather behind that power bill
Oakton 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 $181 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 Oakton 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 Oakton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Oakton I already own here and may sell
Common questions
How much does it cost to own a home in Oakton?
A $777,000 home in Oakton, Virginia costs approximately $6,066 per month with 20% down at 7.4%. That is $4,304 principal and interest, $674 property tax, $191 homeowners insurance, $249 utilities and $648 set aside for maintenance.
What is the property tax rate in Oakton?
Oakton has an effective property tax rate of 1.041%, based on a median home value of $776,700 and median real estate taxes of $8,089. That is higher than the Fairfax County average of 1.011%.
What is the average home price in Oakton?
The median owner-occupied home value in Oakton, Virginia is $776,700, against $699,700 across Fairfax County.
Is it cheaper to rent or buy in Oakton?
Median gross rent in Oakton is $2,333 a month, against $6,066 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 Oakton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Oakton, Virginia at today's rate takes a household income of roughly $260,000 a year. That covers the full $6,066 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Oakton, 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.