Total monthly cost of ownership
Cost to Own a Home in Southern Gateway, Virginia
A $246,000 home here costs
$2,045per 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 $87,500 a year.
A standard mortgage calculator would have told you $1,341. The real number is $704 higher every month, 52% more than the payment most buyers budget for.
Compare Stafford County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Southern Gateway from a five-year rolling sample, and with about 2,224 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 Stafford 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.
Southern Gateway against Stafford County and Virginia
| Measure | Southern Gateway | Stafford County |
|---|---|---|
| Median home value | $246,300 | $458,800 |
| Median property tax | $2,261 | $3,301 |
| Effective tax rate | 0.918% | 0.719% |
| Median gross rent | $1,853 | $1,925 |
| Population | 2,224 | 160,520 |
The weather behind that power bill
Southern Gateway sits in Stafford 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 Stafford County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Stafford County
Full Stafford County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Southern Gateway 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 Southern Gateway every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Southern Gateway I already own here and may sell
Common questions
How much does it cost to own a home in Southern Gateway?
A $246,000 home in Southern Gateway, Virginia costs approximately $2,045 per month with 20% down at 7.24%. That is $1,341 principal and interest, $188 property tax, $60 homeowners insurance, $250 utilities and $205 set aside for maintenance.
What is the property tax rate in Southern Gateway?
Southern Gateway has an effective property tax rate of 0.918%, based on a median home value of $246,300 and median real estate taxes of $2,261. That is higher than the Stafford County average of 0.719%.
What is the average home price in Southern Gateway?
The median owner-occupied home value in Southern Gateway, Virginia is $246,300, against $458,800 across Stafford County.
Is it cheaper to rent or buy in Southern Gateway?
Median gross rent in Southern Gateway is $1,853 a month, against $2,045 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 Southern Gateway?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Southern Gateway, Virginia at today's rate takes a household income of roughly $87,500 a year. That covers the full $2,045 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Southern Gateway, 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.