Will A $300K Townhouse Be More Expensive In The City Or The County?


Will A $300K Townhouse Be More Expensive In The City Or The County?
By Scott Rogers • April 24, 2023
It sounds like a trick question, right? Will A $300K Townhouse Be More Expensive In The City Or The County? Certainly, my monthly payment for a $300K townhouse in the City will be the same as for a $300K townhouse in the County, right? Nope. The difference is the real estate tax rate... City of Harrisonburg = $0.93 per $100 of assessed value Rockingham County = $0.68 per $100 of assessed value As such, here's how the monthly mortgage payments break down if you financed 90% of the purchase price over 30 years with an interest rate of 6.25%... City of Harrisonburg = $1,958 Rockingham County = $1,895 So, they're close... but you'll pay approximately $63 per month more on your $300K City townhouse as compared to a townhouse at the same price point in the County. Or, annually, you'll pay about $750 more to live in the City than in the County. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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