Total monthly cost of ownership
Cost to Own a Home in Waynesboro, Virginia
A $237,000 home here costs
$1,930per 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 $82,500 a year.
A standard mortgage calculator would have told you $1,292. The real number is $638 higher every month, 49% more than the payment most buyers budget for.
Compare Waynesboro city 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.
Waynesboro against Waynesboro city and Virginia
| Measure | Waynesboro | Waynesboro city |
|---|---|---|
| Median home value | $236,600 | $236,600 |
| Median property tax | $1,578 | $1,578 |
| Effective tax rate | 0.667% | 0.667% |
| Median gross rent | $972 | $972 |
| Population | 22,574 | 22,574 |
The weather behind that power bill
Waynesboro sits in Waynesboro city, which averages a high of 85.7°F in its hottest month and a low of 23.4°F in its coldest, with 45.33" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 904 cooling and 4,851 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Waynesboro city , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Waynesboro city
No other places of this size are published in Waynesboro city.
Full Waynesboro city cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Waynesboro 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 Waynesboro every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Waynesboro I already own here and may sell
Common questions
How much does it cost to own a home in Waynesboro?
A $237,000 home in Waynesboro, Virginia costs approximately $1,930 per month with 20% down at 7.24%. That is $1,292 principal and interest, $132 property tax, $58 homeowners insurance, $250 utilities and $198 set aside for maintenance.
What is the property tax rate in Waynesboro?
Waynesboro has an effective property tax rate of 0.667%, based on a median home value of $236,600 and median real estate taxes of $1,578. That is in line with the Waynesboro city average of 0.667%.
What is the average home price in Waynesboro?
The median owner-occupied home value in Waynesboro, Virginia is $236,600, against $236,600 across Waynesboro city.
Is it cheaper to rent or buy in Waynesboro?
Median gross rent in Waynesboro is $972 a month, against $1,930 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 Waynesboro?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Waynesboro, Virginia at today's rate takes a household income of roughly $82,500 a year. That covers the full $1,930 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Waynesboro, 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.