Quick facts: Buckingham, VA

Quick Facts

106
Cost of Living
above US average
16,982
Population
4.42
Crime Rate per 1000
below US average
$59,894
Median Income
below US average
$339,900
Median House Price
above US average
$1935
Average Rent
above US average
10%
Poverty Rate
below US average
3.7%
Unemployment Rate
below US average

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 $59,894.

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Income Needed to Buy

βœ— Stretch
$107k/year
Based on $339,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $107k vs median $59,894
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Income Needed to Rent

⚠ Stretch
$83k/year
Based on $1935/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $83k vs median $59,894
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Buckingham, VA

Buckingham, Virginia, is a small, rural community located in Buckingham County. It is situated in the central part of the state, offering a serene and picturesque environment characterized by rolling hills, farmland, and abundant natural beauty. The area is rich in history, with several historical sites and landmarks that reflect its past, such as the nearby Buckingham Courthouse. The region is known for its outdoor recreational activities, including hiking, fishing, and exploring the scenic trails of the surrounding state parks. The community has a close-knit feel, with local events and gatherings fostering a sense of belonging among residents. Buckingham is also home to various small businesses and services that cater to the needs of the local population. With its peaceful atmosphere and scenic landscapes, Buckingham appeals to those seeking a quieter lifestyle away from the hustle and bustle of urban life. Whether you are a nature enthusiast or someone looking to connect with a tight-knit community, Buckingham offers a unique and charming experience.

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