Total monthly cost of ownership
Cost to Own a Home in Chilhowie, Virginia
A $159,000 home here costs
$1,368per 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 $58,500 a year.
A standard mortgage calculator would have told you $867. The real number is $501 higher every month, 58% more than the payment most buyers budget for.
Compare Smyth County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Chilhowie from a five-year rolling sample, and with about 2,462 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 Smyth 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.
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 $182 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
Talk to someone who works this market
These are Chilhowie 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 Chilhowie every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Chilhowie?
A $159,000 home in Chilhowie, Virginia costs approximately $1,368 per month with 20% down at 7.24%. That is $867 principal and interest, $79 property tax, $39 homeowners insurance, $250 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 $1,368 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 Chilhowie?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Chilhowie, Virginia at today's rate takes a household income of roughly $58,500 a year. That covers the full $1,368 monthly cost, not just the mortgage payment.
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.