Total monthly cost of ownership
Cost to Own a Home in Midlothian, Virginia
A $382,000 home here costs
$2,858per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,964. The real number is $894 higher every month — 46% 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.
Midlothian against Chesterfield County and Virginia
| Measure | Midlothian | Chesterfield County |
|---|---|---|
| Median home value | $381,600 | $336,700 |
| Median property tax | $3,060 | $2,636 |
| Effective tax rate | 0.802% | 0.783% |
| Median gross rent | $1,764 | $1,542 |
| Population | 18,702 | 371,610 |
The weather behind that power bill
Midlothian sits in Chesterfield County, which averages a high of 89.5°F in its hottest month and a low of 28.8°F in its coldest, with 45.5" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,561 cooling and 3,736 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Chesterfield County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chesterfield County
Full Chesterfield County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Midlothian?
A $382,000 home in Midlothian, Virginia costs approximately $2,858 per month with 20% down at 6.66%. That is $1,964 principal and interest, $255 property tax, $94 homeowners insurance, $226 utilities and $318 set aside for maintenance.
What is the property tax rate in Midlothian?
Midlothian has an effective property tax rate of 0.802%, based on a median home value of $381,600 and median real estate taxes of $3,060. That is higher than the Chesterfield County average of 0.783%.
What is the average home price in Midlothian?
The median owner-occupied home value in Midlothian, Virginia is $381,600, against $336,700 across Chesterfield County.
Is it cheaper to rent or buy in Midlothian?
Median gross rent in Midlothian is $1,764 a month, against $2,858 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 Midlothian — 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.