Total monthly cost of ownership
Cost to Own a Home in Collinsville, Virginia
A $124,000 home here costs
$1,053per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $637. The real number is $416 higher every month — 65% 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.
Collinsville against Henry County and Virginia
| Measure | Collinsville | Henry County |
|---|---|---|
| Median home value | $123,500 | $120,300 |
| Median property tax | $665 | $604 |
| Effective tax rate | 0.538% | 0.502% |
| Median gross rent | $714 | $705 |
| Population | 7,645 | 50,365 |
The weather behind that power bill
Collinsville sits in Henry County, which averages a high of 88.0°F in its hottest month and a low of 23.8°F in its coldest, with 47.35" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,085 cooling and 4,342 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Henry County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Henry County
Common questions
How much does it cost to own a home in Collinsville?
A $124,000 home in Collinsville, Virginia costs approximately $1,053 per month with 20% down at 6.66%. That is $637 principal and interest, $56 property tax, $30 homeowners insurance, $226 utilities and $103 set aside for maintenance.
What is the property tax rate in Collinsville?
Collinsville has an effective property tax rate of 0.538%, based on a median home value of $123,500 and median real estate taxes of $665. That is higher than the Henry County average of 0.502%.
What is the average home price in Collinsville?
The median owner-occupied home value in Collinsville, Virginia is $123,500, against $120,300 across Henry County.
Is it cheaper to rent or buy in Collinsville?
Median gross rent in Collinsville is $714 a month, against $1,053 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 Collinsville — 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.