Total monthly cost of ownership
Cost to Own a Home in Raven, Virginia
A $88,000 home here costs
$855per 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 $36,500 a year.
A standard mortgage calculator would have told you $480. The real number is $375 higher every month, 78% more than the payment most buyers budget for.
Compare Tazewell County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Raven from a five-year rolling sample, and with about 1,826 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 Tazewell 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.
Raven against Tazewell County and Virginia
| Measure | Raven | Tazewell County |
|---|---|---|
| Median home value | $87,900 | $116,100 |
| Median property tax | $365 | $718 |
| Effective tax rate | 0.415% | 0.618% |
| Median gross rent | $700 | $738 |
| Population | 1,826 | 39,933 |
Raven extends across 2 counties. Figures here use Tazewell County, where most of its housing sits.
The weather behind that power bill
Raven sits in Tazewell County, which averages a high of 78.9°F in its hottest month and a low of 23.8°F in its coldest, with 41.24" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 536 cooling and 5,219 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Tazewell County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tazewell County
Full Tazewell County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Raven 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 Raven every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Raven?
A $88,000 home in Raven, Virginia costs approximately $855 per month with 20% down at 7.24%. That is $480 principal and interest, $30 property tax, $22 homeowners insurance, $250 utilities and $73 set aside for maintenance.
What is the property tax rate in Raven?
Raven has an effective property tax rate of 0.415%, based on a median home value of $87,900 and median real estate taxes of $365. That is lower than the Tazewell County average of 0.618%.
What is the average home price in Raven?
The median owner-occupied home value in Raven, Virginia is $87,900, against $116,100 across Tazewell County.
Is it cheaper to rent or buy in Raven?
Median gross rent in Raven is $700 a month, against $855 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Raven?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Raven, Virginia at today's rate takes a household income of roughly $36,500 a year. That covers the full $855 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Raven, 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.