Total monthly cost of ownership
Cost to Own a Home in Rushmere, Virginia
A $332,000 home here costs
$2,451per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,707. The real number is $744 higher every month — 44% 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.
Rushmere against Isle of Wight County and Virginia
| Measure | Rushmere | Isle of Wight County |
|---|---|---|
| Median home value | $331,700 | $333,600 |
| Median property tax | $1,914 | $2,399 |
| Effective tax rate | 0.577% | 0.719% |
| Median gross rent | $928 | $1,313 |
| Population | 1,087 | 39,444 |
The weather behind that power bill
Rushmere sits in Isle of Wight County, which averages a high of 89.7°F in its hottest month and a low of 29.5°F in its coldest, with 49.69" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,592 cooling and 3,557 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Isle of Wight County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Isle of Wight County
Full Isle of Wight County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Rushmere?
A $332,000 home in Rushmere, Virginia costs approximately $2,451 per month with 20% down at 6.66%. That is $1,707 principal and interest, $160 property tax, $82 homeowners insurance, $226 utilities and $277 set aside for maintenance.
What is the property tax rate in Rushmere?
Rushmere has an effective property tax rate of 0.577%, based on a median home value of $331,700 and median real estate taxes of $1,914. That is lower than the Isle of Wight County average of 0.719%.
What is the average home price in Rushmere?
The median owner-occupied home value in Rushmere, Virginia is $331,700, against $333,600 across Isle of Wight County.
Is it cheaper to rent or buy in Rushmere?
Median gross rent in Rushmere is $928 a month, against $2,451 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 Rushmere — 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.