The Hidden Costs of Homeownership Hit $16,000 Per Year

(12/3/25)  An analysis by Zillow and Thumbtack released on Nov. 13 found that the hidden costs of homeownership – including insurance, maintenance and property taxes – now add up to $15,979 per year nationwide. That comes to an additional $1,325 per month on top of the principal and interest portion of a typical mortgage payment.

The hidden costs in some markets are even higher. In New York City, for example, they total $24,381 per year, while in San Francisco, they come to $22,781.

So, what can prospective buyers do?

·       Know your true buying power. Sit down with your lender before you go house shopping and get prequalified so you know exactly how much of a house you can afford.

·       Plan for maintenance costs early. Be proactive. Ongoing maintenance can help prevent expensive emergency repairs.

·       Reconsider the type of home you’re looking for. A large single-family home with a big backyard often comes with higher maintenance costs. Budget-conscious buyers may want to explore more affordable options, such as condos or townhouses, which often require less upkeep.

·       Consider new construction. The maintenance required is often less for a newer home, which allows you to enjoy your new digs without unexpected repair bills.