Total monthly cost of ownership
Cost to Own a Home in Chilhowie, Virginia
A $159,000 home here costs
$1,295per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $817. The real number is $477 higher every month — 58% 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.
Chilhowie against Smyth County and Virginia
| Measure | Chilhowie | Smyth County |
|---|---|---|
| Median home value | $158,600 | $125,800 |
| Median property tax | $949 | $766 |
| Effective tax rate | 0.598% | 0.609% |
| Median gross rent | $799 | $692 |
| Population | 2,462 | 29,585 |
The weather behind that power bill
Chilhowie sits in Smyth County, which averages a high of 84.4°F in its hottest month and a low of 23.2°F in its coldest, with 48.15" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 796 cooling and 4,818 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Smyth County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Smyth County
Common questions
How much does it cost to own a home in Chilhowie?
A $159,000 home in Chilhowie, Virginia costs approximately $1,295 per month with 20% down at 6.66%. That is $817 principal and interest, $79 property tax, $39 homeowners insurance, $226 utilities and $133 set aside for maintenance.
What is the property tax rate in Chilhowie?
Chilhowie has an effective property tax rate of 0.598%, based on a median home value of $158,600 and median real estate taxes of $949. That is lower than the Smyth County average of 0.609%.
What is the average home price in Chilhowie?
The median owner-occupied home value in Chilhowie, Virginia is $158,600, against $125,800 across Smyth County.
Is it cheaper to rent or buy in Chilhowie?
Median gross rent in Chilhowie is $799 a month, against $1,295 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Chilhowie — 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.