Total monthly cost of ownership
Cost to Own a Home in Short Pump, Virginia
A $543,000 home here costs
$3,943per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,792. The real number is $1,152 higher every month — 41% 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.
Short Pump against Henrico County and Virginia
| Measure | Short Pump | Henrico County |
|---|---|---|
| Median home value | $543,000 | $333,600 |
| Median property tax | $4,073 | $2,416 |
| Effective tax rate | 0.750% | 0.724% |
| Median gross rent | $1,804 | $1,474 |
| Population | 28,177 | 334,434 |
The weather behind that power bill
Short Pump sits in Henrico County, which averages a high of 89.5°F in its hottest month and a low of 28.8°F in its coldest, with 45.5" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,561 cooling and 3,736 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Henrico County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Henrico County
Full Henrico County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Short Pump?
A $543,000 home in Short Pump, Virginia costs approximately $3,943 per month with 20% down at 6.66%. That is $2,792 principal and interest, $339 property tax, $133 homeowners insurance, $226 utilities and $453 set aside for maintenance.
What is the property tax rate in Short Pump?
Short Pump has an effective property tax rate of 0.750%, based on a median home value of $543,000 and median real estate taxes of $4,073. That is higher than the Henrico County average of 0.724%.
What is the average home price in Short Pump?
The median owner-occupied home value in Short Pump, Virginia is $543,000, against $333,600 across Henrico County.
Is it cheaper to rent or buy in Short Pump?
Median gross rent in Short Pump is $1,804 a month, against $3,943 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 Short Pump — 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.