salaryRent is higher than in 67% of U.S. cities. A typical house costs about 3.6 years of household income. Commutes are long, about 30.8 minutes each way. Most homes (77.3%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $78,840 a year. That is $38 an hour at a full-time job.
Is rent cheaper than other Virginia cities?
Yes. Rent here is cheaper than in most of Virginia. It is number 96 of 199 cities from cheapest to most expensive.
How much do households earn in Falmouth?
Share of households by yearly income. 50.0% of households earn $100,000 or more.
Rent by apartment size in Falmouth
| Size | Falmouth | U.S. average |
|---|---|---|
| 1 bedroom | $2,030 | $1,324 |
| 2 bedrooms | $1,785 | $1,509 |
| 3 bedrooms | $2,256 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Falmouth overall?
Everyday prices in Virginia overall are 1% above the U.S. average (index 101.1, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Falmouth, so the Virginia figure is shown.
Taxes and bills in Falmouth
Life in Falmouth
Is it cheaper to rent or buy in Falmouth?
Renting is cheaper right now: about $1,069 a month less.
Owning assumes a typical $438,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $43,820 for the down payment.
Frequently asked questions
What is the average rent in Falmouth, VA?
Renting in Falmouth costs a median of about $1,971 a month in 2026, including utilities. The Virginia median is $2,049.
How much do I need to make to live in Falmouth?
To keep rent under 30% of income, you need about $78,840 a year, or $38 an hour at a full-time job.
Is Falmouth cheap or expensive?
Falmouth is rated Cheap: rent takes 19.6% of the typical household income of $120,767. It ranks 96th cheapest of 199 Virginia cities we track.
How much are property taxes in Falmouth?
The median homeowner in Falmouth pays $2,508 a year in property taxes, about 0.57% of the median home value.
Is Falmouth more expensive than the national average?
Overall prices in Virginia are 1% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Falmouth?
The median home value in Falmouth is $438,200, about 3.6 times the typical yearly household income.
5,216 people live in Falmouth. Numbers are typical (middle) values.