Total monthly cost of ownership
Cost to Own a Home in Cloverdale, Virginia
A $338,000 home here costs
$2,510per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,738. The real number is $772 higher every month — 44% 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.
Cloverdale against Botetourt County and Virginia
| Measure | Cloverdale | Botetourt County |
|---|---|---|
| Median home value | $338,000 | $268,900 |
| Median property tax | $2,172 | $1,761 |
| Effective tax rate | 0.643% | 0.655% |
| Median gross rent | $889 | $951 |
| Population | 3,095 | 33,875 |
The weather behind that power bill
Cloverdale sits in Botetourt County, which averages a high of 86.5°F in its hottest month and a low of 26.9°F in its coldest, with 43.61" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,223 cooling and 4,271 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Botetourt County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Botetourt County
Full Botetourt County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Cloverdale?
A $338,000 home in Cloverdale, Virginia costs approximately $2,510 per month with 20% down at 6.66%. That is $1,738 principal and interest, $181 property tax, $83 homeowners insurance, $226 utilities and $282 set aside for maintenance.
What is the property tax rate in Cloverdale?
Cloverdale has an effective property tax rate of 0.643%, based on a median home value of $338,000 and median real estate taxes of $2,172. That is lower than the Botetourt County average of 0.655%.
What is the average home price in Cloverdale?
The median owner-occupied home value in Cloverdale, Virginia is $338,000, against $268,900 across Botetourt County.
Is it cheaper to rent or buy in Cloverdale?
Median gross rent in Cloverdale is $889 a month, against $2,510 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 Cloverdale — 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.