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Buying a home in Middletown, Virginia

The typical owner-occupied home in Middletown is worth about $331,600, 14% below the Virginia median of $383,700 and about the same as the national median of $332,700. Owners pay a median $1,402 a year in property taxes, about 0.42% of their home's value, lower than the Virginia rate of 0.73%. The median household earns $60,288 a year, so the median home costs 5.5 times the median income (4.1 times for Virginia). 61% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.

Middletown at a glance

Middletown Virginia U.S.
Median home value $331,600 $383,700 $332,700
Median property tax paid per year $1,402 $2,790 $3,119
Property tax as a share of value 0.42% 0.73% 0.94%
Median household income $60,288 $93,170 $80,734
Homes lived in by their owners 61% 67% 65%
Owner homes with a mortgage 72% 67% 61%
Median monthly costs, owners with a mortgage $1,745 $2,127 $1,963
Those costs as a share of the owners' income 24.4% 20.1% 21.0%
Median rent $798 $1,579 $1,413
Rent as a share of renters' income 29.5% 29.4% 30.6%
Median year homes were built 1983 1984 1980
Vacant homes 6.0% 8.7% 10.1%
Population 1,786 8,705,170 334,922,499

What a typical home costs per month in Middletown

At this week's average 30-year rate of 7.11%, buying the median Middletown home of $331,600 with 20% down costs about $2,039 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,591, because the loan is bigger and FHA adds mortgage insurance.

Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $87,377 for the 20%-down payment. That payment is 41% of the median Middletown household income of $60,288; at that income and 20% down, the 28% guideline points to a home of about $229,000.

The median rent here is $798 a month, so owning the median home costs about $1,241 a month more than renting, before you count the equity you build and any tax benefits.

20% down, 30-year conventional loan
Down payment$66,320
Loan amount$265,280
Principal and interest$1,785
Property taxes (0.42% a year)$116
Homeowners insurance (our estimate, 0.5% a year)$138
PMI$0
Total per month$2,039

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3.5% down, 30-year FHA loan
Down payment$11,606
Loan amount$325,594
Principal and interest$2,190
Property taxes (0.42% a year)$116
Homeowners insurance (our estimate, 0.5% a year)$138
FHA mortgage insurance$147
Total per month$2,591

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Questions about home buying in Middletown

What is the median home value in Middletown?

About $331,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.

How much are property taxes in Middletown?

Homeowners pay a median $1,402 a year, which is about 0.42% of the median home value. Your bill depends on your home's assessed value and local rates.

What income do you need to buy a home in Middletown?

For the median home with 20% down at 7.11%, the payment is about $2,039 a month. Keeping that under 28% of gross income takes about $87,377 a year.

More about Middletown

Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data