Total monthly cost of ownership
Cost to Own a Home in East Highland Park, Virginia
A $211,000 home here costs
$1,746per 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 $75,000 a year.
A standard mortgage calculator would have told you $1,150. The real number is $595 higher every month, 52% more than the payment most buyers budget for.
Compare Henrico County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
East Highland Park against Henrico County and Virginia
| Measure | East Highland Park | Henrico County |
|---|---|---|
| Median home value | $210,500 | $333,600 |
| Median property tax | $1,408 | $2,416 |
| Effective tax rate | 0.669% | 0.724% |
| Median gross rent | $1,238 | $1,474 |
| Population | 16,071 | 334,434 |
The weather behind that power bill
East Highland Park sits in Henrico County, which averages a high of 89.5°F in its hottest month and a low of 28.8°F in its coldest, with 45.5" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,561 cooling and 3,736 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Henrico County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Henrico County
Full Henrico County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are East Highland Park 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 East Highland Park every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in East Highland Park I already own here and may sell
Common questions
How much does it cost to own a home in East Highland Park?
A $211,000 home in East Highland Park, Virginia costs approximately $1,746 per month with 20% down at 7.24%. That is $1,150 principal and interest, $118 property tax, $52 homeowners insurance, $250 utilities and $176 set aside for maintenance.
What is the property tax rate in East Highland Park?
East Highland Park has an effective property tax rate of 0.669%, based on a median home value of $210,500 and median real estate taxes of $1,408. That is lower than the Henrico County average of 0.724%.
What is the average home price in East Highland Park?
The median owner-occupied home value in East Highland Park, Virginia is $210,500, against $333,600 across Henrico County.
Is it cheaper to rent or buy in East Highland Park?
Median gross rent in East Highland Park is $1,238 a month, against $1,746 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 East Highland Park?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in East Highland Park, Virginia at today's rate takes a household income of roughly $75,000 a year. That covers the full $1,746 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for East Highland Park, 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.