Total monthly cost of ownership
Cost to Own a Home in Luray, Virginia
A $244,000 home here costs
$1,920per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,254. The real number is $666 higher every month — 53% 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.
Luray against Page County and Virginia
| Measure | Luray | Page County |
|---|---|---|
| Median home value | $243,500 | $221,800 |
| Median property tax | $2,108 | $1,489 |
| Effective tax rate | 0.866% | 0.671% |
| Median gross rent | $830 | $851 |
| Population | 4,836 | 23,750 |
The weather behind that power bill
Luray sits in Page County, which averages a high of 85.4°F in its hottest month and a low of 23.0°F in its coldest, with 44.15" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 857 cooling and 4,825 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Page County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Page County
Common questions
How much does it cost to own a home in Luray?
A $244,000 home in Luray, Virginia costs approximately $1,920 per month with 20% down at 6.66%. That is $1,254 principal and interest, $176 property tax, $60 homeowners insurance, $226 utilities and $203 set aside for maintenance.
What is the property tax rate in Luray?
Luray has an effective property tax rate of 0.866%, based on a median home value of $243,500 and median real estate taxes of $2,108. That is higher than the Page County average of 0.671%.
What is the average home price in Luray?
The median owner-occupied home value in Luray, Virginia is $243,500, against $221,800 across Page County.
Is it cheaper to rent or buy in Luray?
Median gross rent in Luray is $830 a month, against $1,920 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 Luray — 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.