The typical owner-occupied home in Buchanan County is worth about $94,900, 75% below the Virginia median of $383,700 and 71% below the national median of $332,700. Owners pay a median $413 a year in property taxes, about 0.44% of their home's value, lower than the Virginia rate of 0.73%. The median household earns $42,886 a year, so the median home costs 2.2 times the median income (4.1 times for Virginia). 83% of occupied homes here are lived in by their owners, and 20% of those owners still have a mortgage.
Buchanan County at a glance
| Buchanan County | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $94,900 | $383,700 | $332,700 |
| Median property tax paid per year | $413 | $2,790 | $3,119 |
| Property tax as a share of value | 0.44% | 0.73% | 0.94% |
| Median household income | $42,886 | $93,170 | $80,734 |
| Homes lived in by their owners | 83% | 67% | 65% |
| Owner homes with a mortgage | 20% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,152 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 19.5% | 20.1% | 21.0% |
| Median rent | $743 | $1,579 | $1,413 |
| Rent as a share of renters' income | 50.0% | 29.4% | 30.6% |
| Median year homes were built | 1979 | 1984 | 1980 |
| Vacant homes | 27.0% | 8.7% | 10.1% |
| Population | 19,415 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Buchanan County
At this week's average 30-year rate of 7.11%, buying the median Buchanan County home of $94,900 with 20% down costs about $585 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $743, 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 $25,074 for the 20%-down payment. That payment is 16% of the median Buchanan County household income of $42,886; at that income and 20% down, the 28% guideline points to a home of about $162,000.
The median rent here is $743 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $18,980 |
|---|---|
| Loan amount | $75,920 |
| Principal and interest | $511 |
| Property taxes (0.44% a year) | $35 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $585 |
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| Down payment | $3,322 |
|---|---|
| Loan amount | $93,181 |
| Principal and interest | $627 |
| Property taxes (0.44% a year) | $35 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $42 |
| Total per month | $743 |
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Questions about home buying in Buchanan County
What is the median home value in Buchanan County?
About $94,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Buchanan County?
Homeowners pay a median $413 a year, which is about 0.44% 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 Buchanan County?
For the median home with 20% down at 7.11%, the payment is about $585 a month. Keeping that under 28% of gross income takes about $25,074 a year.
More about Buchanan County
- Mortgage Refinance in Buchanan County
- Debt Relief in Buchanan County
- Home Equity Loans in Buchanan 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