Total monthly cost of ownership
Cost to Own a Home in Petersburg, Virginia
A $158,000 home here costs
$1,330per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $812. The real number is $518 higher every month — 64% 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.
Petersburg against Petersburg city and Virginia
| Measure | Petersburg | Petersburg city |
|---|---|---|
| Median home value | $157,900 | $157,900 |
| Median property tax | $1,449 | $1,449 |
| Effective tax rate | 0.918% | 0.918% |
| Median gross rent | $1,132 | $1,132 |
| Population | 33,365 | 33,365 |
The weather behind that power bill
Petersburg sits in Petersburg city, which averages a high of 89.3°F in its hottest month and a low of 28.3°F in its coldest, with 46.99" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,525 cooling and 3,759 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Petersburg city — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Petersburg city
No other places of this size are published in Petersburg city.
Full Petersburg city cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Petersburg?
A $158,000 home in Petersburg, Virginia costs approximately $1,330 per month with 20% down at 6.66%. That is $812 principal and interest, $121 property tax, $39 homeowners insurance, $226 utilities and $132 set aside for maintenance.
What is the property tax rate in Petersburg?
Petersburg has an effective property tax rate of 0.918%, based on a median home value of $157,900 and median real estate taxes of $1,449. That is in line with the Petersburg city average of 0.918%.
What is the average home price in Petersburg?
The median owner-occupied home value in Petersburg, Virginia is $157,900, against $157,900 across Petersburg city.
Is it cheaper to rent or buy in Petersburg?
Median gross rent in Petersburg is $1,132 a month, against $1,330 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 Petersburg — 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.