Total monthly cost of ownership
Cost to Own a Home in Amherst, Virginia
A $213,000 home here costs
$1,724per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $74,000 a year.
A standard mortgage calculator would have told you $1,161. The real number is $563 higher every month, 48% more than the payment most buyers budget for.
Compare Amherst County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Amherst from a five-year rolling sample, and with about 2,124 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Amherst County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Amherst against Amherst County and Virginia
| Measure | Amherst | Amherst County |
|---|---|---|
| Median home value | $213,300 | $197,200 |
| Median property tax | $997 | $997 |
| Effective tax rate | 0.467% | 0.506% |
| Median gross rent | $686 | $842 |
| Population | 2,124 | 31,385 |
The weather behind that power bill
Amherst sits in Amherst County, which averages a high of 86.9°F in its hottest month and a low of 25.8°F in its coldest, with 42.76" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,115 cooling and 4,295 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Amherst County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Amherst County
Full Amherst County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Amherst averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Amherst every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Amherst I already own here and may sell
Common questions
How much does it cost to own a home in Amherst?
A $213,000 home in Amherst, Virginia costs approximately $1,724 per month with 20% down at 7.24%. That is $1,161 principal and interest, $83 property tax, $52 homeowners insurance, $250 utilities and $178 set aside for maintenance.
What is the property tax rate in Amherst?
Amherst has an effective property tax rate of 0.467%, based on a median home value of $213,300 and median real estate taxes of $997. That is lower than the Amherst County average of 0.506%.
What is the average home price in Amherst?
The median owner-occupied home value in Amherst, Virginia is $213,300, against $197,200 across Amherst County.
Is it cheaper to rent or buy in Amherst?
Median gross rent in Amherst is $686 a month, against $1,724 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Amherst?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Amherst, Virginia at today's rate takes a household income of roughly $74,000 a year. That covers the full $1,724 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Amherst, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Virginia.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.