Total monthly cost of ownership
Cost to Own a Home in Brightwood, Virginia
A $300,000 home here costs
$2,211per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,542. The real number is $669 higher every month — 43% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Brightwood against Madison County and Virginia
| Measure | Brightwood | Madison County |
|---|---|---|
| Median home value | $300,000 | $331,400 |
| Median property tax | $1,426 | $1,967 |
| Effective tax rate | 0.475% | 0.594% |
| Median gross rent | — | $1,048 |
| Population | 1,436 | 13,931 |
The weather behind that power bill
Brightwood sits in Madison County, which averages a high of 89.7°F in its hottest month and a low of 29.5°F in its coldest, with 41.61" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,497 cooling and 3,767 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Madison County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
No other places of this size are published in Madison County.
Full Madison County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Brightwood?
A $300,000 home in Brightwood, Virginia costs approximately $2,211 per month with 20% down at 6.66%. That is $1,542 principal and interest, $119 property tax, $74 homeowners insurance, $226 utilities and $250 set aside for maintenance.
What is the property tax rate in Brightwood?
Brightwood has an effective property tax rate of 0.475%, based on a median home value of $300,000 and median real estate taxes of $1,426. That is lower than the Madison County average of 0.594%.
What is the average home price in Brightwood?
The median owner-occupied home value in Brightwood, Virginia is $300,000, against $331,400 across Madison County.
Is it cheaper to rent or buy in Brightwood?
Rent data is not published for Brightwood at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Brightwood — 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.