Total monthly cost of ownership
Cost to Own a Home in Waverly, Virginia
A $135,000 home here costs
$1,161per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $694. The real number is $467 higher every month — 67% 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.
Waverly against Sussex County and Virginia
| Measure | Waverly | Sussex County |
|---|---|---|
| Median home value | $135,300 | $178,500 |
| Median property tax | $1,141 | $966 |
| Effective tax rate | 0.843% | 0.541% |
| Median gross rent | $947 | $952 |
| Population | 2,629 | 10,793 |
The weather behind that power bill
Waverly sits in Sussex 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 Sussex County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sussex County
Full Sussex County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Waverly?
A $135,000 home in Waverly, Virginia costs approximately $1,161 per month with 20% down at 6.66%. That is $694 principal and interest, $95 property tax, $33 homeowners insurance, $226 utilities and $113 set aside for maintenance.
What is the property tax rate in Waverly?
Waverly has an effective property tax rate of 0.843%, based on a median home value of $135,300 and median real estate taxes of $1,141. That is higher than the Sussex County average of 0.541%.
What is the average home price in Waverly?
The median owner-occupied home value in Waverly, Virginia is $135,300, against $178,500 across Sussex County.
Is it cheaper to rent or buy in Waverly?
Median gross rent in Waverly is $947 a month, against $1,161 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 Waverly — 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.