The typical owner-occupied home in Ashland is worth about $293,200, 24% below the Virginia median of $383,700 and 12% below the national median of $332,700. Owners pay a median $2,195 a year in property taxes, about 0.75% of their home's value, close to the Virginia rate of 0.73%. The median household earns $61,164 a year, so the median home costs 4.8 times the median income (4.1 times for Virginia). 56% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Ashland at a glance
| Ashland | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $293,200 | $383,700 | $332,700 |
| Median property tax paid per year | $2,195 | $2,790 | $3,119 |
| Property tax as a share of value | 0.75% | 0.73% | 0.94% |
| Median household income | $61,164 | $93,170 | $80,734 |
| Homes lived in by their owners | 56% | 67% | 65% |
| Owner homes with a mortgage | 55% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,872 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 24.4% | 20.1% | 21.0% |
| Median rent | $1,229 | $1,579 | $1,413 |
| Rent as a share of renters' income | 29.4% | 29.4% | 30.6% |
| Median year homes were built | 1983 | 1984 | 1980 |
| Vacant homes | 11.2% | 8.7% | 10.1% |
| Population | 7,772 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Ashland
At this week's average 30-year rate of 7.11%, buying the median Ashland home of $293,200 with 20% down costs about $1,883 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,372, 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 $80,714 for the 20%-down payment. That payment is 37% of the median Ashland household income of $61,164; at that income and 20% down, the 28% guideline points to a home of about $222,000.
The median rent here is $1,229 a month, so owning the median home costs about $654 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $58,640 |
|---|---|
| Loan amount | $234,560 |
| Principal and interest | $1,578 |
| Property taxes (0.75% a year) | $183 |
| Homeowners insurance (our estimate, 0.5% a year) | $122 |
| PMI | $0 |
| Total per month | $1,883 |
Change the numbers in the calculator
| Down payment | $10,262 |
|---|---|
| Loan amount | $287,889 |
| Principal and interest | $1,937 |
| Property taxes (0.75% a year) | $183 |
| Homeowners insurance (our estimate, 0.5% a year) | $122 |
| FHA mortgage insurance | $130 |
| Total per month | $2,372 |
Change the numbers in the calculator
Questions about home buying in Ashland
What is the median home value in Ashland?
About $293,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ashland?
Homeowners pay a median $2,195 a year, which is about 0.75% 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 Ashland?
For the median home with 20% down at 7.11%, the payment is about $1,883 a month. Keeping that under 28% of gross income takes about $80,714 a year.
More about Ashland
- Mortgage Refinance in Ashland
- Debt Relief in Ashland
- Home Equity Loans in Ashland
- 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