Total monthly cost of ownership
Cost to Own a Home in Forest, Virginia
A $319,000 home here costs
$2,326per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,640. The real number is $686 higher every month — 42% 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.
Forest against Bedford County and Virginia
| Measure | Forest | Bedford County |
|---|---|---|
| Median home value | $319,100 | $276,600 |
| Median property tax | $1,387 | $1,265 |
| Effective tax rate | 0.435% | 0.457% |
| Median gross rent | $1,112 | $955 |
| Population | 12,476 | 80,254 |
The weather behind that power bill
Forest sits in Bedford County, which averages a high of 86.4°F in its hottest month and a low of 27.8°F in its coldest, with 46.31" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,162 cooling and 4,062 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Bedford County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bedford County
Full Bedford County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Forest?
A $319,000 home in Forest, Virginia costs approximately $2,326 per month with 20% down at 6.66%. That is $1,640 principal and interest, $116 property tax, $78 homeowners insurance, $226 utilities and $266 set aside for maintenance.
What is the property tax rate in Forest?
Forest has an effective property tax rate of 0.435%, based on a median home value of $319,100 and median real estate taxes of $1,387. That is lower than the Bedford County average of 0.457%.
What is the average home price in Forest?
The median owner-occupied home value in Forest, Virginia is $319,100, against $276,600 across Bedford County.
Is it cheaper to rent or buy in Forest?
Median gross rent in Forest is $1,112 a month, against $2,326 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 Forest — 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.