Total monthly cost of ownership
Cost to Own a Home in Radford, Virginia
A $212,000 home here costs
$1,669per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,090. The real number is $579 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.
Radford against Radford city and Virginia
| Measure | Radford | Radford city |
|---|---|---|
| Median home value | $211,700 | $211,700 |
| Median property tax | $1,488 | $1,488 |
| Effective tax rate | 0.703% | 0.703% |
| Median gross rent | $966 | $966 |
| Population | 16,505 | 16,505 |
The weather behind that power bill
Radford sits in Radford city, which averages a high of 83.6°F in its hottest month and a low of 22.5°F in its coldest, with 42.11" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 702 cooling and 5,067 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Radford city — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Radford city
No other places of this size are published in Radford city.
Common questions
How much does it cost to own a home in Radford?
A $212,000 home in Radford, Virginia costs approximately $1,669 per month with 20% down at 6.66%. That is $1,090 principal and interest, $124 property tax, $52 homeowners insurance, $226 utilities and $177 set aside for maintenance.
What is the property tax rate in Radford?
Radford has an effective property tax rate of 0.703%, based on a median home value of $211,700 and median real estate taxes of $1,488. That is in line with the Radford city average of 0.703%.
What is the average home price in Radford?
The median owner-occupied home value in Radford, Virginia is $211,700, against $211,700 across Radford city.
Is it cheaper to rent or buy in Radford?
Median gross rent in Radford is $966 a month, against $1,669 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 Radford — 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.