Key Takeaways
- Additional costs associated with owning a home—like taxes, utilities and maintenance—jumped to $24,529 in 2025, up from $17,958 last year, a recent survey showed.
- That’s almost as much as what a typical homeowner pays for mortgage costs in a year.
- Many homeowners said they didn’t anticipate the expenses and would have approached the homebuying process differently with more information.
Most people blame high mortgage rates and soaring property prices for making it harder for Americans to afford homes, but they don’t take into account other increasing housing costs.
A recent survey shows that a sharp increase in non-mortgage expenses, such as insurance, utilities, and property taxes, may be putting pressure on housing affordability. The typical American homeowner could spend an average of $24,529 annually or $2,044 per month this year on home expenses in addition to their mortgage, according to data from Real Estate Witch. That’s a big jump from the $17,958 in home expenses last year. It’s almost equal to the $26,508 a typical homeowner spends on their mortgage each year.
Expenses can be even higher for homeowners association (HOA) members, adding another $3,077 in yearly costs. Plus, homeowners have to factor in about 6.9 hours a week for time associated with repairs and maintenance.
Home ownership costs increased in 2025 to $24,529 annually.
High Costs Have Americans Questioning Homeownership
In fact, the additional expenses are one reason that 69% of homeowners said they had regrets about their home and the costs that come with it, the survey showed.
Four of five home buyers said that additional expenses were more than they expected, and the same share said they would prefer a more expensive home with lower maintenance costs. Some of the common maintenance costs included replacing appliances, painting, plumbing and roof repairs.
Nearly half said they didn’t properly account for maintenance costs and would have approached the homebuying process differently if they had better information, the report said. More than a third of respondents said they believed the previous homeowner wasn’t upfront about the costs and cut corners.
The unexpected costs have soured some on the homeownership experience, as 44% said it was easier to rent a property than own, and about 15% said they were considering a return to renting.
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