Total monthly cost of ownership
Cost to Own a Home in Martinsburg, West Virginia
A $232,000 home here costs
$1,945per 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 $83,500 a year.
A standard mortgage calculator would have told you $1,265. The real number is $680 higher every month, 54% more than the payment most buyers budget for.
Compare Berkeley County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Martinsburg against Berkeley County and West Virginia
| Measure | Martinsburg | Berkeley County |
|---|---|---|
| Median home value | $231,900 | $248,000 |
| Median property tax | $1,545 | $1,353 |
| Effective tax rate | 0.666% | 0.546% |
| Median gross rent | $1,090 | $1,238 |
| Population | 18,805 | 126,165 |
The weather behind that power bill
Martinsburg sits in Berkeley County, which averages a high of 86.9°F in its hottest month and a low of 23.5°F in its coldest, with 38.97" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,013 cooling and 4,947 heating degree days, which is what sets the $168 electricity line above.
See the full climate breakdown for Berkeley County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Berkeley County
Full Berkeley County cost breakdown · Every county in West Virginia
Talk to someone who works this market
These are Martinsburg 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 Martinsburg every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Martinsburg I already own here and may sell
Common questions
How much does it cost to own a home in Martinsburg?
A $232,000 home in Martinsburg, West Virginia costs approximately $1,945 per month with 20% down at 7.24%. That is $1,265 principal and interest, $129 property tax, $122 homeowners insurance, $236 utilities and $193 set aside for maintenance.
What is the property tax rate in Martinsburg?
Martinsburg has an effective property tax rate of 0.666%, based on a median home value of $231,900 and median real estate taxes of $1,545. That is higher than the Berkeley County average of 0.546%.
What is the average home price in Martinsburg?
The median owner-occupied home value in Martinsburg, West Virginia is $231,900, against $248,000 across Berkeley County.
Is it cheaper to rent or buy in Martinsburg?
Median gross rent in Martinsburg is $1,090 a month, against $1,945 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 Martinsburg?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Martinsburg, West Virginia at today's rate takes a household income of roughly $83,500 a year. That covers the full $1,945 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Martinsburg, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for West 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.