Homeownership costs in the US increased 26% since 2020, reaching $18,118 in March due to high inflation and rising home maintenance expenses.
Homeownership costs in the US increased 26% since 2020, totaling $18,118 in March, according to Bankrate. Expenses including taxes, insurance, and utilities increased during high inflation. Home maintenance accounted for the largest share of ownership costs, especially in states where purchase prices rose significantly during the pandemic. This reveals that many buyers underestimate homeownership costs.
June 10, 2024
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