Total monthly cost of ownership
Cost to Own a Home in East Lexington, Virginia
A $276,000 home here costs
$2,068per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,419. The real number is $649 higher every month — 46% 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.
East Lexington against Rockbridge County and Virginia
| Measure | East Lexington | Rockbridge County |
|---|---|---|
| Median home value | $275,800 | $238,700 |
| Median property tax | $1,500 | $1,432 |
| Effective tax rate | 0.544% | 0.600% |
| Median gross rent | $965 | $956 |
| Population | 2,020 | 22,578 |
The weather behind that power bill
East Lexington sits in Rockbridge County, which averages a high of 86.6°F in its hottest month and a low of 23.3°F in its coldest, with 42.89" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,020 cooling and 4,661 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Rockbridge County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Rockbridge County
Full Rockbridge County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in East Lexington?
A $276,000 home in East Lexington, Virginia costs approximately $2,068 per month with 20% down at 6.66%. That is $1,419 principal and interest, $125 property tax, $68 homeowners insurance, $226 utilities and $230 set aside for maintenance.
What is the property tax rate in East Lexington?
East Lexington has an effective property tax rate of 0.544%, based on a median home value of $275,800 and median real estate taxes of $1,500. That is lower than the Rockbridge County average of 0.600%.
What is the average home price in East Lexington?
The median owner-occupied home value in East Lexington, Virginia is $275,800, against $238,700 across Rockbridge County.
Is it cheaper to rent or buy in East Lexington?
Median gross rent in East Lexington is $965 a month, against $2,068 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 East Lexington — 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.