Real Estate
Homeownership Costs in US Jumped 26% Since Pandemic Began
- Bills for taxes, insurance, energy and maintenance soared
- Typical buyers spending $300 a month more than in March 2020
The cost of owning a home in the US has increased 26% since 2020, as expenses including taxes, insurance and utilities all soared during a period of high inflation across the economy.
The average annual outlay for owning and maintaining a typical single-family home — not including mortgage payments — totaled $18,118 in March, the personal finance website Bankrate found. That works out to $1,510 a month, roughly $300 more than four years earlier, when pandemic lockdowns began.