Total monthly cost of ownership
Cost to Own a Home in Lake of the Woods, Virginia
A $378,000 home here costs
$2,776per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,943. The real number is $832 higher every month — 43% 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.
Lake of the Woods against Orange County and Virginia
| Measure | Lake of the Woods | Orange County |
|---|---|---|
| Median home value | $377,500 | $337,300 |
| Median property tax | $2,374 | $2,048 |
| Effective tax rate | 0.629% | 0.607% |
| Median gross rent | $1,690 | $1,145 |
| Population | 8,165 | 37,208 |
The weather behind that power bill
Lake of the Woods sits in Orange County, which averages a high of 86.5°F in its hottest month and a low of 25.3°F in its coldest, with 43.74" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,198 cooling and 4,425 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Orange County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Orange County
Full Orange County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Lake of the Woods?
A $378,000 home in Lake of the Woods, Virginia costs approximately $2,776 per month with 20% down at 6.66%. That is $1,943 principal and interest, $198 property tax, $93 homeowners insurance, $226 utilities and $315 set aside for maintenance.
What is the property tax rate in Lake of the Woods?
Lake of the Woods has an effective property tax rate of 0.629%, based on a median home value of $377,500 and median real estate taxes of $2,374. That is higher than the Orange County average of 0.607%.
What is the average home price in Lake of the Woods?
The median owner-occupied home value in Lake of the Woods, Virginia is $377,500, against $337,300 across Orange County.
Is it cheaper to rent or buy in Lake of the Woods?
Median gross rent in Lake of the Woods is $1,690 a month, against $2,776 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 Lake of the Woods — 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.