Total monthly cost of ownership
Cost to Own a Home in Grottoes, Virginia
A $268,000 home here costs
$2,006per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,378. The real number is $628 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.
Grottoes against Rockingham County and Virginia
| Measure | Grottoes | Rockingham County |
|---|---|---|
| Median home value | $267,500 | $287,900 |
| Median property tax | $1,352 | $1,532 |
| Effective tax rate | 0.505% | 0.532% |
| Median gross rent | $847 | $1,125 |
| Population | 2,926 | 84,739 |
Grottoes extends across 2 counties. Figures here use Rockingham County, where most of its housing sits.
The weather behind that power bill
Grottoes 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 Grottoes?
A $268,000 home in Grottoes, Virginia costs approximately $2,006 per month with 20% down at 6.66%. That is $1,378 principal and interest, $113 property tax, $66 homeowners insurance, $226 utilities and $223 set aside for maintenance.
What is the property tax rate in Grottoes?
Grottoes has an effective property tax rate of 0.505%, based on a median home value of $267,500 and median real estate taxes of $1,352. That is lower than the Rockingham County average of 0.532%.
What is the average home price in Grottoes?
The median owner-occupied home value in Grottoes, Virginia is $267,500, against $287,900 across Rockingham County.
Is it cheaper to rent or buy in Grottoes?
Median gross rent in Grottoes is $847 a month, against $2,006 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 Grottoes — 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.