The typical owner-occupied home in Cluster Springs is worth about $133,300, 65% below the Virginia median of $383,700 and 60% below the national median of $332,700. Owners pay a median $713 a year in property taxes, about 0.53% of their home's value, lower than the Virginia rate of 0.73%. The median household earns $76,125 a year, so the median home costs 1.8 times the median income (4.1 times for Virginia). 100% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Cluster Springs at a glance
| Cluster Springs | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $133,300 | $383,700 | $332,700 |
| Median property tax paid per year | $713 | $2,790 | $3,119 |
| Property tax as a share of value | 0.53% | 0.73% | 0.94% |
| Median household income | $76,125 | $93,170 | $80,734 |
| Homes lived in by their owners | 100% | 67% | 65% |
| Owner homes with a mortgage | 50% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,100 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 20.1% | 21.0% |
| Median rent | – | $1,579 | $1,413 |
| Median year homes were built | 1980 | 1984 | 1980 |
| Vacant homes | 2.8% | 8.7% | 10.1% |
| Population | 859 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Cluster Springs
At this week's average 30-year rate of 7.11%, buying the median Cluster Springs home of $133,300 with 20% down costs about $832 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,054, 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 $35,648 for the 20%-down payment. That payment is 13% of the median Cluster Springs household income of $76,125; at that income and 20% down, the 28% guideline points to a home of about $285,000.
| Down payment | $26,660 |
|---|---|
| Loan amount | $106,640 |
| Principal and interest | $717 |
| Property taxes (0.53% a year) | $59 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $832 |
Change the numbers in the calculator
| Down payment | $4,666 |
|---|---|
| Loan amount | $130,886 |
| Principal and interest | $880 |
| Property taxes (0.53% a year) | $59 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $59 |
| Total per month | $1,054 |
Change the numbers in the calculator
Questions about home buying in Cluster Springs
What is the median home value in Cluster Springs?
About $133,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cluster Springs?
Homeowners pay a median $713 a year, which is about 0.53% 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 Cluster Springs?
For the median home with 20% down at 7.11%, the payment is about $832 a month. Keeping that under 28% of gross income takes about $35,648 a year.
More about Cluster Springs
- Mortgage Refinance in Cluster Springs
- Debt Relief in Cluster Springs
- Home Equity Loans in Cluster Springs
- 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