Quick facts: Kilmarnock, VA

Quick Facts

106
Cost of Living
above US average
1,428
Population
33.61
Crime Rate per 1000
above US average
$36,875
Median Income
below US average
$274,900
Median House Price
above US average
$1350.0
Average Rent
below US average
11%
Poverty Rate
above US average
3.4%
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 $36,875.

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Income Needed to Buy

βœ— Stretch
$86k/year
Based on $274,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $86k vs median $36,875
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Income Needed to Rent

⚠ Stretch
$58k/year
Based on $1350.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $58k vs median $36,875
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Kilmarnock, VA

Kilmarnock is a charming town located in Lancaster County, Virginia, known for its quaint atmosphere and rich history. Situated near the Northern Neck peninsula, Kilmarnock has a population of just over a thousand residents, making it a tight-knit community. The town features beautiful waterfront views along the Rappahannock River, contributing to its appeal for both locals and tourists. Kilmarnock is notable for its historic downtown area, with boutique shops, art galleries, and cozy eateries that reflect the town's heritage. The nearby Chesapeake Bay offers numerous recreational activities, such as boating, fishing, and swimming, drawing outdoor enthusiasts to the region. Culturally, Kilmarnock hosts various local events and festivals throughout the year, enhancing community spirit and attracting visitors. Educational resources are also accessible, with public schools serving the area, providing quality education for residents. Overall, Kilmarnock, VA, offers a peaceful, picturesque lifestyle complemented by vibrant community engagement and natural beauty.

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