The hidden costs of owning a home in the United States have surged to nearly $16,000 per year, according to a recent analysis by Zillow and Thumbtack. These costs are exacerbating the affordability crisis for potential homebuyers across the nation. The report highlights that the average homeowner spends $15,979 annually on expenses such as insurance, maintenance, and property taxes.

Maintenance alone accounts for $10,946 of these costs, while homeowners insurance and property taxes add approximately $2,003 and $3,030, respectively. Collectively, these expenses have increased by 4.7% over the past year, outpacing the average household income growth of just 3.8%.

The rising costs present a significant challenge for those looking to purchase a home , as they contribute to the overall

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