Total monthly cost of ownership
Cost to Own a Home in Penhook, Virginia
A $477,000 home here costs
$3,387per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,452. The real number is $935 higher every month — 38% 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.
Penhook against Franklin County and Virginia
| Measure | Penhook | Franklin County |
|---|---|---|
| Median home value | $476,500 | $222,800 |
| Median property tax | $2,327 | $1,188 |
| Effective tax rate | 0.488% | 0.533% |
| Median gross rent | — | $797 |
| Population | 1,253 | 54,958 |
The weather behind that power bill
Penhook sits in Franklin County, which averages a high of 86.6°F in its hottest month and a low of 26.4°F in its coldest, with 49.18" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,066 cooling and 4,291 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Franklin County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Franklin County
Full Franklin County cost breakdown · Every county in Virginia
Common questions
How much does it cost to own a home in Penhook?
A $477,000 home in Penhook, Virginia costs approximately $3,387 per month with 20% down at 6.66%. That is $2,452 principal and interest, $194 property tax, $117 homeowners insurance, $226 utilities and $398 set aside for maintenance.
What is the property tax rate in Penhook?
Penhook has an effective property tax rate of 0.488%, based on a median home value of $476,500 and median real estate taxes of $2,327. That is lower than the Franklin County average of 0.533%.
What is the average home price in Penhook?
The median owner-occupied home value in Penhook, Virginia is $476,500, against $222,800 across Franklin County.
Is it cheaper to rent or buy in Penhook?
Rent data is not published for Penhook at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Penhook — 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.