Total monthly cost of ownership
Cost to Own a Home in Elliston, Virginia
A $163,000 home here costs
$1,355per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $838. The real number is $517 higher every month — 62% 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.
Elliston against Montgomery County and Virginia
| Measure | Elliston | Montgomery County |
|---|---|---|
| Median home value | $162,500 | $283,600 |
| Median property tax | $1,368 | $2,174 |
| Effective tax rate | 0.842% | 0.767% |
| Median gross rent | $913 | $1,206 |
| Population | 1,041 | 99,159 |
The weather behind that power bill
Elliston sits in Montgomery County, which averages a high of 82.3°F in its hottest month and a low of 22.1°F in its coldest, with 42.64" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 619 cooling and 5,295 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Montgomery County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Elliston?
A $163,000 home in Elliston, Virginia costs approximately $1,355 per month with 20% down at 6.66%. That is $838 principal and interest, $114 property tax, $40 homeowners insurance, $226 utilities and $136 set aside for maintenance.
What is the property tax rate in Elliston?
Elliston has an effective property tax rate of 0.842%, based on a median home value of $162,500 and median real estate taxes of $1,368. That is higher than the Montgomery County average of 0.767%.
What is the average home price in Elliston?
The median owner-occupied home value in Elliston, Virginia is $162,500, against $283,600 across Montgomery County.
Is it cheaper to rent or buy in Elliston?
Median gross rent in Elliston is $913 a month, against $1,355 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 Elliston — 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.