The hidden costs of owning a home in 15 major US cities

Advertisement

beacon hill boston

J.Elliott

Beacon Hill, Boston.

Your mortgage payments are just the beginning.

Advertisement

An analysis by real estate marketplace Zillow and service marketplace Thumbtack broke down the costs any homebuyer should be prepared to float in 15 major US metro areas, calculating how much homeowners should expect to pay on top of their mortgages - and how those costs compare to a median-priced home in each area.

The analysis took into account commonly outsourced maintenance costs such as yard work and carpet cleaning, as well as "hidden" costs like taxes, insurance, and utilities.

It adds up. As a rule of thumb, someone buying a home should intend to factor in an extra $9,500 annually, or 5.31% of the median house value (the number determined for the general US).

Below, see how much a typical homeowner should expect to pay in hidden and maintenance costs in the listed metro areas over the course of a year:

Advertisement

hidden housing costs and maintenance

Andy Kiersz / Business Insider

Then check out how those numbers translate to a percentage of median house value:

hidden costs and maintenance as percent of mhv

Andy Kiersz / Business Insider

See the full data.

NOW WATCH: 6 scientifically proven features men find attractive in women