Total monthly cost of ownership
Cost to Own a Home in Blacksburg, Virginia
A $417,000 home here costs
$3,098per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,144. The real number is $955 higher every month — 45% 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.
Blacksburg against Montgomery County and Virginia
| Measure | Blacksburg | Montgomery County |
|---|---|---|
| Median home value | $417,200 | $283,600 |
| Median property tax | $3,341 | $2,174 |
| Effective tax rate | 0.801% | 0.767% |
| Median gross rent | $1,290 | $1,206 |
| Population | 45,288 | 99,159 |
The weather behind that power bill
Blacksburg sits in Montgomery County, which averages a high of 82.3°F in its hottest month and a low of 22.1°F in its coldest, with 42.64" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 619 cooling and 5,295 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Montgomery County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Blacksburg?
A $417,000 home in Blacksburg, Virginia costs approximately $3,098 per month with 20% down at 6.66%. That is $2,144 principal and interest, $278 property tax, $103 homeowners insurance, $226 utilities and $348 set aside for maintenance.
What is the property tax rate in Blacksburg?
Blacksburg has an effective property tax rate of 0.801%, based on a median home value of $417,200 and median real estate taxes of $3,341. That is higher than the Montgomery County average of 0.767%.
What is the average home price in Blacksburg?
The median owner-occupied home value in Blacksburg, Virginia is $417,200, against $283,600 across Montgomery County.
Is it cheaper to rent or buy in Blacksburg?
Median gross rent in Blacksburg is $1,290 a month, against $3,098 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 Blacksburg — 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.