06/10/2024

The Skyrocketing, Hidden Costs of Homeownership

Here's how they stack up

Home ownership means being prepared for expected – and unexpected costs. And in some parts of the country, those hidden costs of homeownership can cost more than in other areas.

The average annual cost of owning and maintaining a single-family home is $18,118 a year, up 26 percent since 2020, according to a new study by Bankrate.

The Hidden Costs of Homeownership study analyzed the average costs beyond a mortgage, including property taxes, homeowners insurance, home maintenance costs and electricity and internet and cable bills, then compared those costs to a similar study conducted four years ago.

Please select this link to read the complete article from USA Today.