Total monthly cost of ownership
Cost to Own a Home in Chase City, Virginia
A $115,000 home here costs
$1,053per 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 $45,000 a year.
A standard mortgage calculator would have told you $627. The real number is $426 higher every month, 68% more than the payment most buyers budget for.
Compare Mecklenburg County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Chase City from a five-year rolling sample, and with about 2,530 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 Mecklenburg 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.
Chase City against Mecklenburg County and Virginia
| Measure | Chase City | Mecklenburg County |
|---|---|---|
| Median home value | $115,400 | $169,400 |
| Median property tax | $630 | $826 |
| Effective tax rate | 0.546% | 0.488% |
| Median gross rent | $594 | $804 |
| Population | 2,530 | 30,431 |
The weather behind that power bill
Chase City sits in Mecklenburg County, which averages a high of 91.7°F in its hottest month and a low of 28.7°F in its coldest, with 43.51" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,825 cooling and 3,504 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Mecklenburg County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mecklenburg County
Full Mecklenburg County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Chase City 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 Chase City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Chase City I already own here and may sell
Common questions
How much does it cost to own a home in Chase City?
A $115,000 home in Chase City, Virginia costs approximately $1,053 per month with 20% down at 7.24%. That is $627 principal and interest, $52 property tax, $28 homeowners insurance, $250 utilities and $96 set aside for maintenance.
What is the property tax rate in Chase City?
Chase City has an effective property tax rate of 0.546%, based on a median home value of $115,400 and median real estate taxes of $630. That is higher than the Mecklenburg County average of 0.488%.
What is the average home price in Chase City?
The median owner-occupied home value in Chase City, Virginia is $115,400, against $169,400 across Mecklenburg County.
Is it cheaper to rent or buy in Chase City?
Median gross rent in Chase City is $594 a month, against $1,053 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 Chase City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Chase City, Virginia at today's rate takes a household income of roughly $45,000 a year. That covers the full $1,053 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Chase City, 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.