Posted on 10/23/2026 3:30:11 PM PDT by george76
Zillow and Thumbtack found property taxes, maintenance and insurance now add $1,380 a month beyond mortgage payments
...
The hidden costs of homeownership are rising and have increased by nearly one-third in the last five years as expenses like insurance, maintenance and property taxes take a bite out of homeowners' budgets.
A new report by Zillow and Thumbtack found those costs amount to about $16,566 per year, which amounts to roughly $1,380 a month in addition to a mortgage payment.
Within the $16,566 total cost, the typical U.S. homeowner faces about $11,171 in annual maintenance, $2,266 for homeowners insurance and $3,129 on property taxes.
...
Long after they receive the keys, insurance, taxes and upkeep are recurring expenses to plan for. 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."
Hidden costs have risen in recent years, with the biggest jump occurring in homeowners insurance premiums, which are up 54% over the last five years.
Maintenance costs had the second-fastest growth rate and are up 32% over the past five years, while property taxes grew 19% in that period.
Overall homeownership costs increased 3% in the last year but are up 32% over the past five years.
(Excerpt) Read more at foxbusiness.com ...
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People sometimes say that they bought their first house when mortgage interest rates were 19% (or whatever). But interest rates went down, and people re-financed, and the pain was reduced.
And it should be noted that average home prices have increased 100% since 1980, while wages have only increased 30%. And the insurance. And the property taxes. And the maintenance. It’s tougher today than it used to be.
As someone who has both rented and owned, I’ve come to the conclusion that’s its roughly a wash.
If you want to avoid the maintenance hassles, rent. But you won’t be building equity. So be sure to invest a little each month in a solid index fund to make up for that.
Otherwise, buy. But location is everything. As the saying goes, better to buy a bad house in a good neighborhood than a good house in a bad neighborhood.
Just my opinion. Your mileage may vary.
Real estate taxes should be outlawed period. You never own your home as long as they’re allowed.
That's absurd. I pay less than $2000 a year for property taxes and insurance. Maintenance is negligible. My house is 11 years old and Zillow says it's worth $425,000.
The institutioon of property taxes transfers true property ownership to the government and the paperwork owner is just a renter.
Plank #1 of the Communist Manifesto: Abolition of private property and application of all rents of land to public purpose.
Mission accomplished.
We have been in our home 30 years and those numbers are
Close to actual IF you include upgrading the original home. Otherwise 6k a year for maintenance is correct for us. I tried to explain the costs to my SIL when he was equally comparing rent to a mortgage payment. We’ve had to bail them out now three times recently for major expenses.
I agree. My property taxes are about $300 a month. My insurance is about $150. No way do I spend anything near $900 a month in maintenance.
Cue the freepers who exclaim that how ever shall the local Gestp-I mean “police” force and Fire department be funded? How about how the perv-I mean “teachers” and “schools”
Homestead taxes are inherently unamerican for the reasons stated and I do believe not even the British were so daring as to do so.
But try to impose a State Income Tax in its place and people scream like banshees.
My property taxes in Austin are over $1,300 a month.
I despise property taxes.
There’s nothing you can do about.
You can never own your own property. Just rent it from the government and you have little to say about the rent.
I’m retired and property taxes alone consumes nearly half my current annual income.
I’m getting tired of owning. I’d rather pay rent like Musk-no commitments. Might mean moving but until I can’t get around my nest egg is sufficient. I really do believe a Trump account worth $300+k at age 18 is the answer long term. It won’t be solved tomorrow but there was plenty of housing in the 70’s, my 20-something years. Something happened since then. Too many immigrants. Too many zoning restrictions. Not enough boomers dying quick enough and their heirs squandering what they do inherit. Perhaps those on their death beds should give their estates to the Trump accounts like a few billionaires did. Doesn’t mean the 18 year olds won’t squander it but when you confine the take-outs to health care(non-existent) or to a down payment they’re set long term.
Property taxes have been around since the republic has. I am trying to think of a time when there were no property taxes. As I recall, there were none in the Territories. Once they became states, so came property taxes.
I recall reading about Thomas Jefferson paying property taxes.
Of course, the amount is very important.
I HAVE 5.63 ACRES—RURAL N NEVADA:
TAXES==UNDER $1060 THIS YEAR.
INSURANCE UNDER $1000
MAINTENANCE IS MOSTLY DONE BY ME WITH SOME HELP FROM NEIGHBOR FOR LARGER ITEMS.
AM FEMALE & 86
OK-—SOooooo—WHO PAYS FOR STREETS/POLICE/FIRE/ETC???
OK-—SOooooo—WHO PAYS FOR STREETS/POLICE/FIRE/ETC???
ALSO SCHOOLS
My property taxes in Austin are over $1,300 a month.
*************
For a residential property?
That’s outrageous if so. I pay less than $7,000 a year in property taxes on a commercial building in the “much maligned” liberal Oregon.
Texas needs a property tax revolt, you’re paying too much in property taxes.
OK-—SOooooo—WHO PAYS FOR STREETS/POLICE/FIRE/ETC???
ALSO SCHOOLS
I HAVE OWNED MULTIPLE HOUSES AT ONE TIME DUE TO PURCHASES & AN INHERITANCE.
FIRST HOUSE==I WAS 26. NOW 86 60 YEARS.
DUE TO OWNERSHIP OVERLAPS, I HAVE PAID 91 YEARS WORTH OF PROPERTY TAXES=======
I NEVER HAD ANY KIDS—_SO I HAVE BEEN PAYING SCHOOL COSTS FOR ALL THOSE OTHER KIDS.....
My 2nd house (a rental now) was purchased for $78k in 2005. Paid it down to $64k in 2012 and paid it off. It generates enough income to cover property taxes at my principal residence as well as all the costs of being a rental. That works well now that I'm retired. I'm debt free and comfortable on my social security and IRA income.
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