Total monthly cost of ownership
Cost to Own a Home in Richland, Pennsylvania
A $198,000 home here costs
$1,778per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,018. The real number is $760 higher every month — 75% 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.
Richland against Lebanon County and Pennsylvania
| Measure | Richland | Lebanon County |
|---|---|---|
| Median home value | $198,000 | $227,300 |
| Median property tax | $3,205 | $3,180 |
| Effective tax rate | 1.619% | 1.399% |
| Median gross rent | $972 | $1,087 |
| Population | 1,613 | 143,592 |
The weather behind that power bill
Richland sits in Lebanon County, which averages a high of 84.4°F in its hottest month and a low of 22.0°F in its coldest, with 46.4" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 856 cooling and 5,456 heating degree days, which is what sets the $194 electricity line above.
See the full climate breakdown for Lebanon County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lebanon County
Full Lebanon County cost breakdown · Every county in Pennsylvania
Common questions
How much does it cost to own a home in Richland?
A $198,000 home in Richland, Pennsylvania costs approximately $1,778 per month with 20% down at 6.66%. That is $1,018 principal and interest, $267 property tax, $66 homeowners insurance, $262 utilities and $165 set aside for maintenance.
What is the property tax rate in Richland?
Richland has an effective property tax rate of 1.619%, based on a median home value of $198,000 and median real estate taxes of $3,205. That is higher than the Lebanon County average of 1.399%.
What is the average home price in Richland?
The median owner-occupied home value in Richland, Pennsylvania is $198,000, against $227,300 across Lebanon County.
Is it cheaper to rent or buy in Richland?
Median gross rent in Richland is $972 a month, against $1,778 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 Richland — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Pennsylvania.
- 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.