Total monthly cost of ownership
Cost to Own a Home in Rural Retreat, Virginia
A $168,000 home here costs
$1,426per 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 $61,000 a year.
A standard mortgage calculator would have told you $916. The real number is $510 higher every month, 56% more than the payment most buyers budget for.
Compare Wythe County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Rural Retreat from a five-year rolling sample, and with about 1,614 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 Wythe 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.
Rural Retreat against Wythe County and Virginia
| Measure | Rural Retreat | Wythe County |
|---|---|---|
| Median home value | $167,900 | $172,100 |
| Median property tax | $940 | $851 |
| Effective tax rate | 0.560% | 0.494% |
| Median gross rent | $778 | $718 |
| Population | 1,614 | 28,219 |
The weather behind that power bill
Rural Retreat sits in Wythe County, which averages a high of 82.8°F in its hottest month and a low of 23.5°F in its coldest, with 41.68" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 639 cooling and 5,117 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Wythe County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wythe County
Talk to someone who works this market
These are Rural Retreat 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 Rural Retreat every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Rural Retreat?
A $168,000 home in Rural Retreat, Virginia costs approximately $1,426 per month with 20% down at 7.24%. That is $916 principal and interest, $78 property tax, $41 homeowners insurance, $250 utilities and $140 set aside for maintenance.
What is the property tax rate in Rural Retreat?
Rural Retreat has an effective property tax rate of 0.560%, based on a median home value of $167,900 and median real estate taxes of $940. That is higher than the Wythe County average of 0.494%.
What is the average home price in Rural Retreat?
The median owner-occupied home value in Rural Retreat, Virginia is $167,900, against $172,100 across Wythe County.
Is it cheaper to rent or buy in Rural Retreat?
Median gross rent in Rural Retreat is $778 a month, against $1,426 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 Rural Retreat?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Rural Retreat, Virginia at today's rate takes a household income of roughly $61,000 a year. That covers the full $1,426 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Rural Retreat, 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.