Home insurance premiums now surpass property taxes in most US counties
A decade of rising insurance costs has pushed average homeowner premiums above property taxes in two thirds of US counties, with the Southeast facing the steepest increases.
Homeownership Costs 2 articles
Owning a home brings recurring expenses beyond a monthly mortgage payment. California homeowners may face insurance premiums, property taxes, association dues, repairs, utilities, and assessments, as well as major costs for maintenance or disaster protection. Purchase closing costs and escrow arrangements can also affect a household's finances. Unexpected repairs or assessments can strain owners who could comfortably afford the original purchase payment.
Retired couples in Sarasota Bradenton face $78000 annual budget as insurance costs climb
A retired couple in Florida’s Sarasota-Bradenton region may need nearly $78,000 a year to cover living expenses, with homeowners insurance and healthcare making up a major share of the budget.