The typical owner-occupied home in Glasgow is worth about $131,300, 66% below the Virginia median of $383,700 and 61% below the national median of $332,700. Owners pay a median $834 a year in property taxes, about 0.64% of their home's value, lower than the Virginia rate of 0.73%. The median household earns $51,827 a year, so the median home costs 2.5 times the median income (4.1 times for Virginia). 69% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Glasgow at a glance
| Glasgow | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $131,300 | $383,700 | $332,700 |
| Median property tax paid per year | $834 | $2,790 | $3,119 |
| Property tax as a share of value | 0.64% | 0.73% | 0.94% |
| Median household income | $51,827 | $93,170 | $80,734 |
| Homes lived in by their owners | 69% | 67% | 65% |
| Owner homes with a mortgage | 70% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $976 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 17.9% | 20.1% | 21.0% |
| Median rent | $764 | $1,579 | $1,413 |
| Rent as a share of renters' income | 24.0% | 29.4% | 30.6% |
| Median year homes were built | 1961 | 1984 | 1980 |
| Vacant homes | 21.9% | 8.7% | 10.1% |
| Population | 1,330 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Glasgow
At this week's average 30-year rate of 7.11%, buying the median Glasgow home of $131,300 with 20% down costs about $831 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,050, 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 $35,629 for the 20%-down payment. That payment is 19% of the median Glasgow household income of $51,827; at that income and 20% down, the 28% guideline points to a home of about $191,000.
The median rent here is $764 a month, so owning the median home costs about $67 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,260 |
|---|---|
| Loan amount | $105,040 |
| Principal and interest | $707 |
| Property taxes (0.64% a year) | $70 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| PMI | $0 |
| Total per month | $831 |
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| Down payment | $4,596 |
|---|---|
| Loan amount | $128,922 |
| Principal and interest | $867 |
| Property taxes (0.64% a year) | $70 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| FHA mortgage insurance | $58 |
| Total per month | $1,050 |
Change the numbers in the calculator
Questions about home buying in Glasgow
What is the median home value in Glasgow?
About $131,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Glasgow?
Homeowners pay a median $834 a year, which is about 0.64% 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 Glasgow?
For the median home with 20% down at 7.11%, the payment is about $831 a month. Keeping that under 28% of gross income takes about $35,629 a year.
More about Glasgow
- Mortgage Refinance in Glasgow
- Debt Relief in Glasgow
- Home Equity Loans in Glasgow
- 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