Total monthly cost of ownership
Cost to Own a Home in Williamsburg, Virginia
A $393,000 home here costs
$2,859per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,020. The real number is $839 higher every month — 42% 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.
Williamsburg against Williamsburg city and Virginia
| Measure | Williamsburg | Williamsburg city |
|---|---|---|
| Median home value | $393,200 | $393,200 |
| Median property tax | $2,265 | $2,265 |
| Effective tax rate | 0.576% | 0.576% |
| Median gross rent | $1,361 | $1,361 |
| Population | 15,564 | 15,564 |
The weather behind that power bill
Williamsburg sits in Williamsburg city, which averages a high of 88.5°F in its hottest month and a low of 30.6°F in its coldest, with 51.24" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,585 cooling and 3,491 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Williamsburg city — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Williamsburg city
No other places of this size are published in Williamsburg city.
Full Williamsburg city cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Williamsburg?
A $393,000 home in Williamsburg, Virginia costs approximately $2,859 per month with 20% down at 6.66%. That is $2,020 principal and interest, $189 property tax, $97 homeowners insurance, $226 utilities and $328 set aside for maintenance.
What is the property tax rate in Williamsburg?
Williamsburg has an effective property tax rate of 0.576%, based on a median home value of $393,200 and median real estate taxes of $2,265. That is in line with the Williamsburg city average of 0.576%.
What is the average home price in Williamsburg?
The median owner-occupied home value in Williamsburg, Virginia is $393,200, against $393,200 across Williamsburg city.
Is it cheaper to rent or buy in Williamsburg?
Median gross rent in Williamsburg is $1,361 a month, against $2,859 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 Williamsburg — 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.