Mortgage Calculator & Closing Costs: Waynesboro, VA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Waynesboro, Virginia.
Median Home Price
$235K
Population
23K
Avg Monthly Rent
$1,020
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 Waynesboro.
Waynesboro vs Virginia Median
The median home price in Waynesboro is $235,000, which is 41% below the Virginia state median of $400,000.
Mortgage Calculator — Waynesboro, VA
Pre-filled with Waynesboro median home price and Virginia tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $235K home using Virginia's 0.82% tax rate and $1,700/yr insurance.
5% Down
$1,844/mo
Down: $11,750
Loan: $223K
P&I: $1,411
Tax: $161
Insurance: $142
PMI: $130
10% Down
$1,762/mo
Down: $23,500
Loan: $212K
P&I: $1,337
Tax: $161
Insurance: $142
PMI: $123
20% Down (No PMI)
$1,491/mo
Down: $47,000
Loan: $188K
P&I: $1,188
Tax: $161
Insurance: $142
Income needed (28% rule): $64K/year with 20% down, $76K/year with 10% down.
Rent vs Buy in Waynesboro
Rent
$1,020/mo
vs
Buy (10% down)
$1,762/mo
Price-to-rent ratio: 19.2 — A ratio between 15-20 means the rent vs buy decision in Waynesboro depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Waynesboro is $235,000, 41% below the Virginia state median of $400,000. With a population of 22,630, Waynesboro 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 $235,000 home in Waynesboro would carry roughly $161/month in property taxes. Homeowners insurance in Virginia runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Waynesboro is $1,020/month. The price-to-rent ratio in Waynesboro is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Waynesboro offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Virginia's Virginia Housing DPA Grant program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Waynesboro.