Total monthly cost of ownership
Cost to Own a Home in Hampton, Virginia
A $234,000 home here costs
$1,870per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,203. The real number is $667 higher every month — 55% 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.
Hampton against Hampton city and Virginia
| Measure | Hampton | Hampton city |
|---|---|---|
| Median home value | $234,100 | $234,100 |
| Median property tax | $2,259 | $2,259 |
| Effective tax rate | 0.965% | 0.965% |
| Median gross rent | $1,346 | $1,346 |
| Population | 137,334 | 137,334 |
The weather behind that power bill
Hampton sits in Hampton city, which averages a high of 87.3°F in its hottest month and a low of 32.1°F in its coldest, with 47.83" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,593 cooling and 3,461 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Hampton city — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hampton city
No other places of this size are published in Hampton city.
Common questions
How much does it cost to own a home in Hampton?
A $234,000 home in Hampton, Virginia costs approximately $1,870 per month with 20% down at 6.66%. That is $1,203 principal and interest, $188 property tax, $58 homeowners insurance, $226 utilities and $195 set aside for maintenance.
What is the property tax rate in Hampton?
Hampton has an effective property tax rate of 0.965%, based on a median home value of $234,100 and median real estate taxes of $2,259. That is in line with the Hampton city average of 0.965%.
What is the average home price in Hampton?
The median owner-occupied home value in Hampton, Virginia is $234,100, against $234,100 across Hampton city.
Is it cheaper to rent or buy in Hampton?
Median gross rent in Hampton is $1,346 a month, against $1,870 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 Hampton — 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.