Total monthly cost of ownership
Cost to Own a Home in Mathews, Virginia
A $179,000 home here costs
$1,433per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $920. The real number is $513 higher every month — 56% 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.
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 $158 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
Common questions
How much does it cost to own a home in Mathews?
A $179,000 home in Mathews, Virginia costs approximately $1,433 per month with 20% down at 6.66%. That is $920 principal and interest, $93 property tax, $44 homeowners insurance, $226 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.
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.