Mortgage Calculator & Closing Costs: Fredericksburg, VA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Fredericksburg, Virginia.
Median Home Price
$385K
Population
28K
Avg Monthly Rent
$1,520
Property Tax Rate
0.82% *
* Property tax shown is the Virginia state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Fredericksburg.
Fredericksburg vs Virginia Median
The median home price in Fredericksburg is $385,000, which is roughly in line with the Virginia state median of $400,000.
Mortgage Calculator — Fredericksburg, VA
Pre-filled with Fredericksburg median home price and Virginia tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $385K home using Virginia's 0.82% tax rate and $1,700/yr insurance.
5% Down
$2,930/mo
Down: $19,250
Loan: $366K
P&I: $2,312
Tax: $263
Insurance: $142
PMI: $213
10% Down
$2,797/mo
Down: $38,500
Loan: $347K
P&I: $2,190
Tax: $263
Insurance: $142
PMI: $202
20% Down (No PMI)
$2,352/mo
Down: $77,000
Loan: $308K
P&I: $1,947
Tax: $263
Insurance: $142
Income needed (28% rule): $101K/year with 20% down, $120K/year with 10% down.
Rent vs Buy in Fredericksburg
Rent
$1,520/mo
vs
Buy (10% down)
$2,797/mo
Price-to-rent ratio: 21.1 — At a ratio above 20, renting may be more economical in Fredericksburg for shorter stays. Buying costs $1,277 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Fredericksburg is $385,000, roughly in line with the Virginia state median of $400,000. With a population of 28,118, Fredericksburg is a smaller market where home prices tend to be more accessible than in many parts of Virginia.
Property taxes in Virginia average 0.82% annually. This moderate property tax rate means a $385,000 home in Fredericksburg would carry roughly $263/month in property taxes. Homeowners insurance in Virginia runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Fredericksburg is $1,520/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Fredericksburg presents moderate affordability. The $385K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Fredericksburg.