Total monthly cost of ownership
Cost to Own a Home in Hollins, Virginia
A $228,000 home here costs
$1,914per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $82,000 a year.
A standard mortgage calculator would have told you $1,243. The real number is $671 higher every month, 54% more than the payment most buyers budget for.
Compare Roanoke County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hollins against Roanoke County and Virginia
| Measure | Hollins | Roanoke County |
|---|---|---|
| Median home value | $227,900 | $267,300 |
| Median property tax | $2,094 | $2,340 |
| Effective tax rate | 0.919% | 0.875% |
| Median gross rent | $1,113 | $1,148 |
| Population | 17,005 | 96,793 |
Hollins extends across 2 counties. Figures here use Roanoke County, where most of its housing sits.
The weather behind that power bill
Hollins sits in Roanoke County, which averages a high of 88.1°F in its hottest month and a low of 28.7°F in its coldest, with 42.82" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,368 cooling and 3,869 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Roanoke County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Roanoke County
Full Roanoke County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Hollins averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Hollins every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hollins I already own here and may sell
Common questions
How much does it cost to own a home in Hollins?
A $228,000 home in Hollins, Virginia costs approximately $1,914 per month with 20% down at 7.24%. That is $1,243 principal and interest, $175 property tax, $56 homeowners insurance, $250 utilities and $190 set aside for maintenance.
What is the property tax rate in Hollins?
Hollins has an effective property tax rate of 0.919%, based on a median home value of $227,900 and median real estate taxes of $2,094. That is higher than the Roanoke County average of 0.875%.
What is the average home price in Hollins?
The median owner-occupied home value in Hollins, Virginia is $227,900, against $267,300 across Roanoke County.
Is it cheaper to rent or buy in Hollins?
Median gross rent in Hollins is $1,113 a month, against $1,914 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hollins?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hollins, Virginia at today's rate takes a household income of roughly $82,000 a year. That covers the full $1,914 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hollins, 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.