Overview
- The new Zillow and Thumbtack analysis estimates non‑mortgage homeowner expenses at $15,979 per year, or about $1,325 per month.
- Maintenance is the biggest line item at $10,946 annually, with property taxes at $3,030 and homeowner’s insurance at $2,003.
- These recurring costs rose 4.7% over the past year, exceeding the 3.8% growth in household incomes.
- Homeowner insurance premiums are up 48% nationwide since February 2020, with Miami averaging $4,607 a year, up 72%, and large increases also seen in Jacksonville, Tampa, Orlando and New Orleans.
- Total hidden costs are highest in coastal metros, reaching $24,381 in New York City, $22,781 in San Francisco and $21,320 in Boston, and the report urges buyers to budget for maintenance, consider smaller homes or condos, and weigh new construction to reduce near‑term repairs.