Total monthly cost of ownership
Cost to Own a Home in Bowling Green, Virginia
A $307,000 home here costs
$2,291per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,578. The real number is $712 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.
Bowling Green against Caroline County and Virginia
| Measure | Bowling Green | Caroline County |
|---|---|---|
| Median home value | $307,100 | $283,100 |
| Median property tax | $1,859 | $1,585 |
| Effective tax rate | 0.605% | 0.560% |
| Median gross rent | $544 | $1,201 |
| Population | 1,455 | 31,541 |
The weather behind that power bill
Bowling Green sits in Caroline County, which averages a high of 88.7°F in its hottest month and a low of 27.9°F in its coldest, with 45.81" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,420 cooling and 3,957 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Caroline County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Caroline County
Full Caroline County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Bowling Green?
A $307,000 home in Bowling Green, Virginia costs approximately $2,291 per month with 20% down at 6.66%. That is $1,578 principal and interest, $155 property tax, $75 homeowners insurance, $226 utilities and $256 set aside for maintenance.
What is the property tax rate in Bowling Green?
Bowling Green has an effective property tax rate of 0.605%, based on a median home value of $307,100 and median real estate taxes of $1,859. That is higher than the Caroline County average of 0.560%.
What is the average home price in Bowling Green?
The median owner-occupied home value in Bowling Green, Virginia is $307,100, against $283,100 across Caroline County.
Is it cheaper to rent or buy in Bowling Green?
Median gross rent in Bowling Green is $544 a month, against $2,291 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 Bowling Green — 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.