Total monthly cost of ownership
Cost to Own a Home in Merrimac, Virginia
A $73,000 home here costs
$755per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $375. The real number is $380 higher every month — 101% 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.
Merrimac against Montgomery County and Virginia
| Measure | Merrimac | Montgomery County |
|---|---|---|
| Median home value | $73,400 | $283,600 |
| Median property tax | $906 | $2,174 |
| Effective tax rate | 1.234% | 0.767% |
| Median gross rent | $1,099 | $1,206 |
| Population | 2,955 | 99,159 |
The weather behind that power bill
Merrimac sits in Montgomery County, which averages a high of 82.3°F in its hottest month and a low of 22.1°F in its coldest, with 42.64" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 619 cooling and 5,295 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Montgomery County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Merrimac?
A $73,000 home in Merrimac, Virginia costs approximately $755 per month with 20% down at 6.66%. That is $375 principal and interest, $75 property tax, $18 homeowners insurance, $226 utilities and $61 set aside for maintenance.
What is the property tax rate in Merrimac?
Merrimac has an effective property tax rate of 1.234%, based on a median home value of $73,400 and median real estate taxes of $906. That is higher than the Montgomery County average of 0.767%.
What is the average home price in Merrimac?
The median owner-occupied home value in Merrimac, Virginia is $73,400, against $283,600 across Montgomery County.
Is it cheaper to rent or buy in Merrimac?
Median gross rent in Merrimac is $1,099 a month, against $755 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Merrimac — 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.