Total monthly cost of ownership
Cost to Own a Home in Elkton, Virginia
A $232,000 home here costs
$1,780per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,193. The real number is $588 higher every month — 49% 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.
Elkton against Rockingham County and Virginia
| Measure | Elkton | Rockingham County |
|---|---|---|
| Median home value | $232,300 | $287,900 |
| Median property tax | $1,334 | $1,532 |
| Effective tax rate | 0.574% | 0.532% |
| Median gross rent | $745 | $1,125 |
| Population | 2,973 | 84,739 |
The weather behind that power bill
Elkton sits in Rockingham County, which averages a high of 86.0°F in its hottest month and a low of 22.7°F in its coldest, with 39" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 947 cooling and 5,061 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Rockingham County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Rockingham County
Full Rockingham County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Elkton?
A $232,000 home in Elkton, Virginia costs approximately $1,780 per month with 20% down at 6.66%. That is $1,193 principal and interest, $111 property tax, $57 homeowners insurance, $226 utilities and $193 set aside for maintenance.
What is the property tax rate in Elkton?
Elkton has an effective property tax rate of 0.574%, based on a median home value of $232,300 and median real estate taxes of $1,334. That is higher than the Rockingham County average of 0.532%.
What is the average home price in Elkton?
The median owner-occupied home value in Elkton, Virginia is $232,300, against $287,900 across Rockingham County.
Is it cheaper to rent or buy in Elkton?
Median gross rent in Elkton is $745 a month, against $1,780 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 Elkton — 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.