The typical owner-occupied home in Bedford County is worth about $297,400, 22% below the Virginia median of $383,700 and 11% below the national median of $332,700. Owners pay a median $1,285 a year in property taxes, about 0.43% of their home's value, lower than the Virginia rate of 0.73%. The median household earns $78,937 a year, so the median home costs 3.8 times the median income (4.1 times for Virginia). 85% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Bedford County at a glance
| Bedford County | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $297,400 | $383,700 | $332,700 |
| Median property tax paid per year | $1,285 | $2,790 | $3,119 |
| Property tax as a share of value | 0.43% | 0.73% | 0.94% |
| Median household income | $78,937 | $93,170 | $80,734 |
| Homes lived in by their owners | 85% | 67% | 65% |
| Owner homes with a mortgage | 59% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,522 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 19.0% | 20.1% | 21.0% |
| Median rent | $952 | $1,579 | $1,413 |
| Rent as a share of renters' income | 27.7% | 29.4% | 30.6% |
| Median year homes were built | 1990 | 1984 | 1980 |
| Vacant homes | 11.6% | 8.7% | 10.1% |
| Population | 80,894 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Bedford County
At this week's average 30-year rate of 7.11%, buying the median Bedford County home of $297,400 with 20% down costs about $1,831 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,326, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $78,471 for the 20%-down payment. That payment is 28% of the median Bedford County household income of $78,937; at that income and 20% down, the 28% guideline points to a home of about $299,000.
The median rent here is $952 a month, so owning the median home costs about $879 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $59,480 |
|---|---|
| Loan amount | $237,920 |
| Principal and interest | $1,600 |
| Property taxes (0.43% a year) | $107 |
| Homeowners insurance (our estimate, 0.5% a year) | $124 |
| PMI | $0 |
| Total per month | $1,831 |
Change the numbers in the calculator
| Down payment | $10,409 |
|---|---|
| Loan amount | $292,013 |
| Principal and interest | $1,964 |
| Property taxes (0.43% a year) | $107 |
| Homeowners insurance (our estimate, 0.5% a year) | $124 |
| FHA mortgage insurance | $132 |
| Total per month | $2,326 |
Change the numbers in the calculator
Questions about home buying in Bedford County
What is the median home value in Bedford County?
About $297,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bedford County?
Homeowners pay a median $1,285 a year, which is about 0.43% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Bedford County?
For the median home with 20% down at 7.11%, the payment is about $1,831 a month. Keeping that under 28% of gross income takes about $78,471 a year.
More about Bedford County
- Mortgage Refinance in Bedford County
- Debt Relief in Bedford County
- Home Equity Loans in Bedford County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data