03:42 PM EST, 11/13/2025 (MT Newswires) -- Hidden homeownership costs have increased faster than household income in the US, exacerbating affordability challenges, a report by Zillow Group ( ZG ) (Z, ZG) and Thumbtack showed Thursday.

Costs such as insurance, maintenance and property taxes are now estimated at an average $15,979 per year, up 4.7% from last year, according to the report. Household incomes rose 3.8% over the same period.

Zillow ( ZG ) is a real estate marketplace, while Thumbtack connects homeowners with professionals for routine maintenance and major improvements.

Maintenance expenses account for close to $11,000 of those hidden costs, while homeowners pay $3,030 in property taxes and a little above $2,000 for insurance, the report showed. That translates into $1,325 in extra monthly expenses for homeowners on top of mortgage obligations.

"Insurance costs are rising nearly twice as fast as homeowner incomes," said Kara Ng, a senior economist at Zillow ( ZG ). "It's not just a budget line item. It's a barrier to entry for aspiring first-time buyers and for families already stretched thin."

Insurance cost for a typical home has surged 48% nationwide since February 2020, Zillow ( ZG ) and Thumbtack said.

Hidden costs are the highest in high-priced coastal metropolitan areas, such as New York City at $24,381, San Francisco at $22,781 and Boston at $21,320.

"Buyers who are already facing affordability challenges in today's market need to understand and budget for these less obvious expenses when calculating how much home they can truly afford," Ng said.

Price: 70.41, Change: -1.63, Percent Change: -2.26