The typical owner-occupied home in Rich Creek is worth about $123,200, 68% below the Virginia median of $383,700 and 63% below the national median of $332,700. Owners pay a median $730 a year in property taxes, about 0.59% of their home's value, lower than the Virginia rate of 0.73%. The median household earns $48,750 a year, so the median home costs 2.5 times the median income (4.1 times for Virginia). 59% of occupied homes here are lived in by their owners, and 43% of those owners still have a mortgage.
Rich Creek at a glance
| Rich Creek | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $123,200 | $383,700 | $332,700 |
| Median property tax paid per year | $730 | $2,790 | $3,119 |
| Property tax as a share of value | 0.59% | 0.73% | 0.94% |
| Median household income | $48,750 | $93,170 | $80,734 |
| Homes lived in by their owners | 59% | 67% | 65% |
| Owner homes with a mortgage | 43% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,073 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 14.4% | 20.1% | 21.0% |
| Median rent | $478 | $1,579 | $1,413 |
| Rent as a share of renters' income | 31.0% | 29.4% | 30.6% |
| Median year homes were built | 1949 | 1984 | 1980 |
| Vacant homes | 26.7% | 8.7% | 10.1% |
| Population | 776 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Rich Creek
At this week's average 30-year rate of 7.11%, buying the median Rich Creek home of $123,200 with 20% down costs about $775 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $980, 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 $33,211 for the 20%-down payment. That payment is 19% of the median Rich Creek household income of $48,750; at that income and 20% down, the 28% guideline points to a home of about $181,000.
The median rent here is $478 a month, so owning the median home costs about $297 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $24,640 |
|---|---|
| Loan amount | $98,560 |
| Principal and interest | $663 |
| Property taxes (0.59% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| PMI | $0 |
| Total per month | $775 |
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| Down payment | $4,312 |
|---|---|
| Loan amount | $120,969 |
| Principal and interest | $814 |
| Property taxes (0.59% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| FHA mortgage insurance | $54 |
| Total per month | $980 |
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Questions about home buying in Rich Creek
What is the median home value in Rich Creek?
About $123,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Rich Creek?
Homeowners pay a median $730 a year, which is about 0.59% 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 Rich Creek?
For the median home with 20% down at 7.11%, the payment is about $775 a month. Keeping that under 28% of gross income takes about $33,211 a year.
More about Rich Creek
- Mortgage Refinance in Rich Creek
- Debt Relief in Rich Creek
- Home Equity Loans in Rich Creek
- 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