15 U.S. Cities With High Hidden Homeownership Costs

Upset homeowners
ChameleonsEye / Shutterstock.com

Buying a home remains a cornerstone of the American dream. But if you think homeownership is cheap, you are living in a fantasy.

Homeownership comes with many hidden costs that first-time buyers often overlook. And these costs are higher in some places than others.

Home inspection software company Spectora crunched the numbers from the U.S. Census Bureau’s latest American Housing Survey to reveal the hidden costs of ownership in the 15 most populous U.S. metropolitan areas.

These expenses, which Spectora dubs “the costs no one tells you about,” are:

  • Utilities
  • Property taxes
  • Home insurance
  • Homeowners association (HOA) fees
  • Commuting costs

Following are those 15 cities that can deliver a financial sucker punch to homeowners unprepared to dig a little deeper into their wallets.

In 13 of these cities, the total median cost of hidden homeownership expenses exceeds the national median of $875 per month, and the other two cities aren’t far behind that.

Read Next

12 Products to Keep Your Car Clean and Organized
12 Products to Keep Your Car Clean and Organized

These items will help put your vehicular mess to rest — and each is available for less than $20 on Amazon.

How to Get Rid of 6 Hard-to-Sell Things
How to Get Rid of 6 Hard-to-Sell Things

Find out where to sell, donate or recycle items — and feel good about it.

10 Times You’re Right to Be a Cheapskate
10 Times You’re Right to Be a Cheapskate

Sometimes, clever shoppers can save money without sacrificing quality. Here are some great examples of how to do it.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Comments

Trending Stories