Total monthly cost of ownership
Cost to Own a Home in Cave Spring, Georgia
A $151,000 home here costs
$1,345per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $57,500 a year.
A standard mortgage calculator would have told you $823. The real number is $521 higher every month, 63% more than the payment most buyers budget for.
Compare Floyd County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Cave Spring from a five-year rolling sample, and with about 1,148 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Floyd County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Cave Spring against Floyd County and Georgia
| Measure | Cave Spring | Floyd County |
|---|---|---|
| Median home value | $150,700 | $194,100 |
| Median property tax | $1,093 | $1,560 |
| Effective tax rate | 0.725% | 0.804% |
| Median gross rent | $846 | $971 |
| Population | 1,148 | 98,985 |
The weather behind that power bill
Cave Spring sits in Floyd County, which averages a high of 91.2°F in its hottest month and a low of 31.8°F in its coldest, with 50.68" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,838 cooling and 2,974 heating degree days, which is what sets the $171 electricity line above.
See the full climate breakdown for Floyd County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Floyd County
Talk to someone who works this market
These are Cave Spring averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Cave Spring every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Cave Spring I already own here and may sell
Common questions
How much does it cost to own a home in Cave Spring?
A $151,000 home in Cave Spring, Georgia costs approximately $1,345 per month with 20% down at 7.24%. That is $823 principal and interest, $91 property tax, $66 homeowners insurance, $239 utilities and $126 set aside for maintenance.
What is the property tax rate in Cave Spring?
Cave Spring has an effective property tax rate of 0.725%, based on a median home value of $150,700 and median real estate taxes of $1,093. That is lower than the Floyd County average of 0.804%.
What is the average home price in Cave Spring?
The median owner-occupied home value in Cave Spring, Georgia is $150,700, against $194,100 across Floyd County.
Is it cheaper to rent or buy in Cave Spring?
Median gross rent in Cave Spring is $846 a month, against $1,345 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Cave Spring?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Cave Spring, Georgia at today's rate takes a household income of roughly $57,500 a year. That covers the full $1,345 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cave Spring, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Georgia.
- 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.