Quick facts: Bridgewater, VA

Quick Facts

102.3
Cost of Living
above US average
6,694
Population
7.02
Crime Rate per 1000
below US average
$72,051
Median Income
below US average
$374,900
Median House Price
above US average
$1605.0
Average Rent
above US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $72,051.

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Income Needed to Buy

βœ— Stretch
$118k/year
Based on $374,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $118k vs median $72,051
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Income Needed to Rent

βœ“ Affordable
$69k/year
Based on $1605.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($72,051) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Bridgewater, VA

Bridgewater is a charming town located in Rockingham County, Virginia. Nestled in the picturesque Shenandoah Valley, it boasts a rich agricultural heritage and a close-knit community atmosphere. With a population of around 6,000 residents, Bridgewater offers a blend of rural warmth and small-town charm. The town is known for its historic downtown area, featuring quaint shops, local eateries, and the scenic Bridgewater College, established in 1880. The college adds a youthful energy to the community and hosts various cultural events throughout the year. The surrounding natural landscape provides ample opportunities for outdoor activities, including hiking, fishing, and exploring nearby parks and the George Washington National Forest. Bridgewater hosts several annual events, such as the Bridgewater Harvest Festival, celebrating the local agricultural bounty and community spirit. With its friendly residents, beautiful scenery, and historical significance, Bridgewater is a delightful place to visit or call home in the heart of Virginia.

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