07/13/2024
FYI
$18,118 is the average hidden cost of owning and maintaining a single-family home in the U.S. every year, according to a recent study from Bankrate. 💰
According to Bankrate, "Everything has become more expensive in the past four years. Home prices have risen by 40% since the beginning of the pandemic. In March 2020, the median price of an existing home was $280,700, according to the National Association of Realtors. By March 2024, that figure had reached $393,500."
Moreover, insurance costs have surged, driven by escalating home values, rising construction expenses, and more frequent natural disasters, further squeezing homeowners.
Most expensive states:
1. Hawaii
2. California
3. Massachusetts
4. New Jersey
5. Connecticut
Least expensive states:
1. Kentucky
2. Arkansas
3. Mississippi
4. Alabama
5. Indiana
