Total monthly cost of ownership
Cost to Own a Home in Mount Hope, West Virginia
A $92,000 home here costs
$858per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $473. The real number is $385 higher every month — 81% 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.
Mount Hope against Fayette County and West Virginia
| Measure | Mount Hope | Fayette County |
|---|---|---|
| Median home value | $91,900 | $104,200 |
| Median property tax | $488 | $690 |
| Effective tax rate | 0.531% | 0.662% |
| Median gross rent | $545 | $777 |
| Population | 1,369 | 39,987 |
The weather behind that power bill
Mount Hope sits in Fayette County, which averages a high of 81.3°F in its hottest month and a low of 22.8°F in its coldest, with 47.86" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 639 cooling and 5,193 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Fayette County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fayette County
Full Fayette County cost breakdown · Every county in West Virginia
Common questions
How much does it cost to own a home in Mount Hope?
A $92,000 home in Mount Hope, West Virginia costs approximately $858 per month with 20% down at 6.66%. That is $473 principal and interest, $41 property tax, $48 homeowners insurance, $219 utilities and $77 set aside for maintenance.
What is the property tax rate in Mount Hope?
Mount Hope has an effective property tax rate of 0.531%, based on a median home value of $91,900 and median real estate taxes of $488. That is lower than the Fayette County average of 0.662%.
What is the average home price in Mount Hope?
The median owner-occupied home value in Mount Hope, West Virginia is $91,900, against $104,200 across Fayette County.
Is it cheaper to rent or buy in Mount Hope?
Median gross rent in Mount Hope is $545 a month, against $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 Mount Hope — 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.