WASHINGTON, D.C. (WOWO) A new analysis from Zillow and Thumbtack finds that the “hidden” expenses of owning a home — everything outside the mortgage — have jumped to nearly $16,000 a year, rising faster than typical household incomes.

The report says the average homeowner now spends $15,979 annually, or about $1,325 a month, on maintenance, insurance, and property taxes. Those costs rose 4.7% over the past year, higher than the 3.8% increase in household incomes according to WBNS 10-TV.

Zillow calculated local property tax and insurance estimates, while Thumbtack analyzed maintenance expenses using real project data from customers and home service professionals. Routine costs such as HVAC upkeep, gutter cleaning, water heater servicing, lawn care, and roof maintenance make up the largest portion — about $10,946 a year.

Homeowners insurance has become one of the fastest-rising financial pressures. Premiums have climbed 48% nationwide since 2020, with some cities seeing far steeper increases. Miami’s typical premium now reaches $4,607, up 72% in just five years. Cities like Jacksonville, Tampa, and Orlando are seeing similar spikes, while rates outside Florida have surged 79% in New Orleans, 59% in Sacramento, and 58% in Atlanta.

The rising costs are hitting homeowners in the nation’s most expensive markets the hardest. Annual hidden costs now average $24,381 in New York City, $22,781 in San Francisco, and $21,320 in Boston.

Analysts warn the trend is increasingly pricing out first-time buyers and stretching the budgets of current homeowners. They also note that many new buyers underestimate annual maintenance costs, which are critical for preventing larger, more expensive repairs down the line.