The typical owner-occupied home in Waverly is worth about $145,700, 62% below the Virginia median of $383,700 and 56% below the national median of $332,700. Owners pay a median $1,196 a year in property taxes, about 0.82% of their home's value, higher than the Virginia rate of 0.73%. The median household earns $50,156 a year, so the median home costs 2.9 times the median income (4.1 times for Virginia). 58% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Waverly at a glance
| Waverly | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $145,700 | $383,700 | $332,700 |
| Median property tax paid per year | $1,196 | $2,790 | $3,119 |
| Property tax as a share of value | 0.82% | 0.73% | 0.94% |
| Median household income | $50,156 | $93,170 | $80,734 |
| Homes lived in by their owners | 58% | 67% | 65% |
| Owner homes with a mortgage | 46% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,534 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 18.5% | 20.1% | 21.0% |
| Median rent | $836 | $1,579 | $1,413 |
| Rent as a share of renters' income | 27.3% | 29.4% | 30.6% |
| Median year homes were built | 1977 | 1984 | 1980 |
| Vacant homes | 11.3% | 8.7% | 10.1% |
| Population | 2,324 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Waverly
At this week's average 30-year rate of 7.11%, buying the median Waverly home of $145,700 with 20% down costs about $944 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,187, 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 $40,473 for the 20%-down payment. That payment is 23% of the median Waverly household income of $50,156; at that income and 20% down, the 28% guideline points to a home of about $181,000.
The median rent here is $836 a month, so owning the median home costs about $108 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $29,140 |
|---|---|
| Loan amount | $116,560 |
| Principal and interest | $784 |
| Property taxes (0.82% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $61 |
| PMI | $0 |
| Total per month | $944 |
Change the numbers in the calculator
| Down payment | $5,100 |
|---|---|
| Loan amount | $143,061 |
| Principal and interest | $962 |
| Property taxes (0.82% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $61 |
| FHA mortgage insurance | $64 |
| Total per month | $1,187 |
Change the numbers in the calculator
Questions about home buying in Waverly
What is the median home value in Waverly?
About $145,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Waverly?
Homeowners pay a median $1,196 a year, which is about 0.82% 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 Waverly?
For the median home with 20% down at 7.11%, the payment is about $944 a month. Keeping that under 28% of gross income takes about $40,473 a year.
More about Waverly
- Mortgage Refinance in Waverly
- Debt Relief in Waverly
- Home Equity Loans in Waverly
- 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