Total monthly cost of ownership
Cost to Own a Home in Mathews, Virginia
A $179,000 home here costs
$1,512per 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 $65,000 a year.
A standard mortgage calculator would have told you $976. The real number is $536 higher every month, 55% more than the payment most buyers budget for.
Compare Mathews County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Mathews from a five-year rolling sample, and with about 1,145 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 Mathews 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.
Mathews against Mathews County and Virginia
| Measure | Mathews | Mathews County |
|---|---|---|
| Median home value | $178,600 | $348,800 |
| Median property tax | $1,115 | $1,475 |
| Effective tax rate | 0.624% | 0.423% |
| Median gross rent | — | $1,108 |
| Population | 1,145 | 8,517 |
The weather behind that power bill
Mathews sits in Mathews County, which averages a high of 84.8°F in its hottest month and a low of 29.4°F in its coldest, with 51.94" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,287 cooling and 3,944 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Mathews County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mathews County
No other places of this size are published in Mathews County.
Full Mathews County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Mathews 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 Mathews every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Mathews I already own here and may sell
Common questions
How much does it cost to own a home in Mathews?
A $179,000 home in Mathews, Virginia costs approximately $1,512 per month with 20% down at 7.24%. That is $976 principal and interest, $93 property tax, $44 homeowners insurance, $250 utilities and $149 set aside for maintenance.
What is the property tax rate in Mathews?
Mathews has an effective property tax rate of 0.624%, based on a median home value of $178,600 and median real estate taxes of $1,115. That is higher than the Mathews County average of 0.423%.
What is the average home price in Mathews?
The median owner-occupied home value in Mathews, Virginia is $178,600, against $348,800 across Mathews County.
Is it cheaper to rent or buy in Mathews?
Rent data is not published for Mathews at this level of detail.
What salary do you need to buy a home in Mathews?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Mathews, Virginia at today's rate takes a household income of roughly $65,000 a year. That covers the full $1,512 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Mathews, 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.