Total monthly cost of ownership
Cost to Own a Home in University of Virginia, Virginia
A $422,000 home here costs
$3,126per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,170. The real number is $956 higher every month — 44% 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.
University of Virginia against Albemarle County and Virginia
| Measure | University of Virginia | Albemarle County |
|---|---|---|
| Median home value | $422,200 | $471,000 |
| Median property tax | $3,297 | $3,482 |
| Effective tax rate | 0.781% | 0.739% |
| Median gross rent | $1,385 | $1,623 |
| Population | 9,159 | 113,683 |
The weather behind that power bill
University of Virginia sits in Albemarle County, which averages a high of 87.4°F in its hottest month and a low of 27.7°F in its coldest, with 48.53" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,341 cooling and 4,109 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Albemarle County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Albemarle County
Full Albemarle County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in University of Virginia?
A $422,000 home in University of Virginia, Virginia costs approximately $3,126 per month with 20% down at 6.66%. That is $2,170 principal and interest, $275 property tax, $104 homeowners insurance, $226 utilities and $352 set aside for maintenance.
What is the property tax rate in University of Virginia?
University of Virginia has an effective property tax rate of 0.781%, based on a median home value of $422,200 and median real estate taxes of $3,297. That is higher than the Albemarle County average of 0.739%.
What is the average home price in University of Virginia?
The median owner-occupied home value in University of Virginia, Virginia is $422,200, against $471,000 across Albemarle County.
Is it cheaper to rent or buy in University of Virginia?
Median gross rent in University of Virginia is $1,385 a month, against $3,126 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 University of Virginia — 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.