Total monthly cost of ownership
Cost to Own a Home in Prince George, Virginia
A $254,000 home here costs
$1,903per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,306. The real number is $597 higher every month — 46% 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.
Prince George against Prince George County and Virginia
| Measure | Prince George | Prince George County |
|---|---|---|
| Median home value | $254,300 | $268,300 |
| Median property tax | $1,165 | $2,098 |
| Effective tax rate | 0.458% | 0.782% |
| Median gross rent | $1,529 | $1,563 |
| Population | 2,066 | 42,873 |
The weather behind that power bill
Prince George sits in Prince George County, which averages a high of 89.2°F in its hottest month and a low of 26.7°F in its coldest, with 49.94" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,430 cooling and 3,930 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Prince George County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Prince George County
No other places of this size are published in Prince George County.
Full Prince George County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Prince George?
A $254,000 home in Prince George, Virginia costs approximately $1,903 per month with 20% down at 6.66%. That is $1,306 principal and interest, $97 property tax, $62 homeowners insurance, $226 utilities and $212 set aside for maintenance.
What is the property tax rate in Prince George?
Prince George has an effective property tax rate of 0.458%, based on a median home value of $254,300 and median real estate taxes of $1,165. That is lower than the Prince George County average of 0.782%.
What is the average home price in Prince George?
The median owner-occupied home value in Prince George, Virginia is $254,300, against $268,300 across Prince George County.
Is it cheaper to rent or buy in Prince George?
Median gross rent in Prince George is $1,529 a month, against $1,903 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 Prince 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.