The True Cost of Homeownership: What You Pay Beyond the Mortgage
When most homebuyers calculate whether they can afford a new home, they focus almost exclusively on one number: the monthly mortgage payment. It's the figure lenders qualify them for, the number discussed during showings, and the benchmark used to determine budgets. The average annual cost of owning and maintaining a single-family home in the U.S., excluding the mortgage itself, is estimated at around $21,400 in 2025—roughly $1,800 per month.1 When you factor in these national average ownership expenses, a $2,500 monthly mortgage can grow to over $4,000 in total housing costs. Qualifying...
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