The typical owner-occupied home in West Point is worth about $286,800, 25% below the Virginia median of $383,700 and 14% below the national median of $332,700. Owners pay a median $1,721 a year in property taxes, about 0.60% of their home's value, lower than the Virginia rate of 0.73%. The median household earns $78,785 a year, so the median home costs 3.6 times the median income (4.1 times for Virginia). 81% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
West Point at a glance
| West Point | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $286,800 | $383,700 | $332,700 |
| Median property tax paid per year | $1,721 | $2,790 | $3,119 |
| Property tax as a share of value | 0.60% | 0.73% | 0.94% |
| Median household income | $78,785 | $93,170 | $80,734 |
| Homes lived in by their owners | 81% | 67% | 65% |
| Owner homes with a mortgage | 54% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,621 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 21.8% | 20.1% | 21.0% |
| Median rent | $1,225 | $1,579 | $1,413 |
| Rent as a share of renters' income | 31.1% | 29.4% | 30.6% |
| Median year homes were built | 1972 | 1984 | 1980 |
| Vacant homes | 1.7% | 8.7% | 10.1% |
| Population | 3,480 | 8,705,170 | 334,922,499 |
What a typical home costs per month in West Point
At this week's average 30-year rate of 7.11%, buying the median West Point home of $286,800 with 20% down costs about $1,806 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,284, 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 $77,415 for the 20%-down payment. That payment is 28% of the median West Point household income of $78,785; at that income and 20% down, the 28% guideline points to a home of about $292,000.
The median rent here is $1,225 a month, so owning the median home costs about $581 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $57,360 |
|---|---|
| Loan amount | $229,440 |
| Principal and interest | $1,543 |
| Property taxes (0.60% a year) | $143 |
| Homeowners insurance (our estimate, 0.5% a year) | $120 |
| PMI | $0 |
| Total per month | $1,806 |
Change the numbers in the calculator
| Down payment | $10,038 |
|---|---|
| Loan amount | $281,605 |
| Principal and interest | $1,894 |
| Property taxes (0.60% a year) | $143 |
| Homeowners insurance (our estimate, 0.5% a year) | $120 |
| FHA mortgage insurance | $127 |
| Total per month | $2,284 |
Change the numbers in the calculator
Questions about home buying in West Point
What is the median home value in West Point?
About $286,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in West Point?
Homeowners pay a median $1,721 a year, which is about 0.60% 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 West Point?
For the median home with 20% down at 7.11%, the payment is about $1,806 a month. Keeping that under 28% of gross income takes about $77,415 a year.
More about West Point
- Mortgage Refinance in West Point
- Debt Relief in West Point
- Home Equity Loans in West Point
- 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