Hidden costs of homeownership top $16.5K/year, up nearly 32% in 5 years
PR Newswire•22/10/2026•08:00 ET
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Key Highlights
- ➤$16,566 annual hidden costs, up 31.7% over five years
- ➤Homeowners insurance premiums climbed 54% over five years
- ➤Maintenance costs reached $11,171 annually, the largest expense
- ➤Miami homeowners face nearly $5,000 in annual insurance premiums
- ➤Overall hidden-cost growth slowed to 2.8% over the past year
Expert Statements
Kara Ng, Senior Economist at Zillow
“Many households focus so much on winning the home and underestimate what it costs to live in it”
Kara Ng, Senior Economist at Zillow
“Long after they receive the keys, insurance, taxes and upkeep are recurring expenses to plan for.”
Kara Ng, Senior Economist at Zillow
“Since these homeownership costs vary so much by market, home shoppers should run the numbers and understand what they can truly afford before they make an offer.”
Kendra Sinclair, Home trends expert at Thumbtack
“The slowdown in maintenance cost growth is welcome news for homeowners managing a lot of competing expenses”
Kendra Sinclair, Home trends expert at Thumbtack
“Planning for regular upkeep throughout the year can help prevent bigger repair bills and protect your savings when something unexpected happens.”
Hidden costs of homeownership top $16.5K/year, up nearly 32% in 5 years PR Newswire
A Zillow and Thumbtack analysis finds insurance is the fastest-rising cost of owning a home, while the overall pace of growth has slowed
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