Total monthly cost of ownership
Cost to Own a Home in Lake Land'Or, Virginia
A $278,000 home here costs
$2,187per 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 $93,500 a year.
A standard mortgage calculator would have told you $1,516. The real number is $671 higher every month, 44% more than the payment most buyers budget for.
Compare Caroline County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lake Land'Or from a five-year rolling sample, and with about 3,581 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Caroline County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lake Land'Or against Caroline County and Virginia
| Measure | Lake Land'Or | Caroline County |
|---|---|---|
| Median home value | $278,400 | $283,100 |
| Median property tax | $1,456 | $1,585 |
| Effective tax rate | 0.523% | 0.560% |
| Median gross rent | $1,795 | $1,201 |
| Population | 3,581 | 31,541 |
The weather behind that power bill
Lake Land'Or sits in Caroline County, which averages a high of 88.7°F in its hottest month and a low of 27.9°F in its coldest, with 45.81" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,420 cooling and 3,957 heating degree days, which is what sets the $182 electricity line above.
See the full climate breakdown for Caroline County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Caroline County
Full Caroline County cost breakdown · Every county in Virginia
Talk to someone who works this market
These are Lake Land'Or 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 Lake Land'Or every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lake Land'Or I already own here and may sell
Common questions
How much does it cost to own a home in Lake Land'Or?
A $278,000 home in Lake Land'Or, Virginia costs approximately $2,187 per month with 20% down at 7.24%. That is $1,516 principal and interest, $121 property tax, $68 homeowners insurance, $250 utilities and $232 set aside for maintenance.
What is the property tax rate in Lake Land'Or?
Lake Land'Or has an effective property tax rate of 0.523%, based on a median home value of $278,400 and median real estate taxes of $1,456. That is lower than the Caroline County average of 0.560%.
What is the average home price in Lake Land'Or?
The median owner-occupied home value in Lake Land'Or, Virginia is $278,400, against $283,100 across Caroline County.
Is it cheaper to rent or buy in Lake Land'Or?
Median gross rent in Lake Land'Or is $1,795 a month, against $2,187 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 Lake Land'Or?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lake Land'Or, Virginia at today's rate takes a household income of roughly $93,500 a year. That covers the full $2,187 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Land'Or, 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.