Total monthly cost of ownership
Cost to Own a Home in Montrose, Virginia
A $170,000 home here costs
$1,385per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $874. The real number is $511 higher every month — 58% 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.
Montrose against Henrico County and Virginia
| Measure | Montrose | Henrico County |
|---|---|---|
| Median home value | $170,000 | $333,600 |
| Median property tax | $1,218 | $2,416 |
| Effective tax rate | 0.716% | 0.724% |
| Median gross rent | $1,260 | $1,474 |
| Population | 8,624 | 334,434 |
The weather behind that power bill
Montrose sits in Henrico County, which averages a high of 89.5°F in its hottest month and a low of 28.8°F in its coldest, with 45.5" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,561 cooling and 3,736 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Henrico County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Henrico County
Full Henrico County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Montrose?
A $170,000 home in Montrose, Virginia costs approximately $1,385 per month with 20% down at 6.66%. That is $874 principal and interest, $101 property tax, $42 homeowners insurance, $226 utilities and $142 set aside for maintenance.
What is the property tax rate in Montrose?
Montrose has an effective property tax rate of 0.716%, based on a median home value of $170,000 and median real estate taxes of $1,218. That is in line with the Henrico County average of 0.724%.
What is the average home price in Montrose?
The median owner-occupied home value in Montrose, Virginia is $170,000, against $333,600 across Henrico County.
Is it cheaper to rent or buy in Montrose?
Median gross rent in Montrose is $1,260 a month, against $1,385 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 Montrose — 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.