Total monthly cost of ownership
Cost to Own a Home in West Point, Virginia
A $257,000 home here costs
$1,976per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,321. The real number is $655 higher every month — 50% 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.
West Point against King William County and Virginia
| Measure | West Point | King William County |
|---|---|---|
| Median home value | $256,600 | $276,500 |
| Median property tax | $1,809 | $1,733 |
| Effective tax rate | 0.705% | 0.627% |
| Median gross rent | $1,297 | $1,246 |
| Population | 3,439 | 18,232 |
The weather behind that power bill
West Point sits in King William County, which averages a high of 88.4°F in its hottest month and a low of 29.4°F in its coldest, with 45.64" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,563 cooling and 3,610 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for King William County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in King William County
Full King William County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in West Point?
A $257,000 home in West Point, Virginia costs approximately $1,976 per month with 20% down at 6.66%. That is $1,321 principal and interest, $151 property tax, $63 homeowners insurance, $226 utilities and $214 set aside for maintenance.
What is the property tax rate in West Point?
West Point has an effective property tax rate of 0.705%, based on a median home value of $256,600 and median real estate taxes of $1,809. That is higher than the King William County average of 0.627%.
What is the average home price in West Point?
The median owner-occupied home value in West Point, Virginia is $256,600, against $276,500 across King William County.
Is it cheaper to rent or buy in West Point?
Median gross rent in West Point is $1,297 a month, against $1,976 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 West Point — 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.