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The average cost of owning<\/a> and maintaining a home<\/a> has jumped up by 26% since 2020.<\/p>\n Bankrate released<\/a> a report on Monday that reveals the “hidden costs” of homeownership factoring in several factors, including average property taxes, homeowners insurance, home maintenance, and utility bills.<\/p>\n “Everything has gotten more expensive in the past four years,” Bankrate researchers wrote, pointing out that home prices have increased by 40% since the start of the pandemic.<\/p>\n Home upkeep costs have increased from $14,428 per year or $1,202 per month in 2020 to $18,118 a year or $1,510 per month in 2024 \u2014 on top of a monthly mortgage payment.<\/p>\n Hawaii takes the top spot with the high typical price of a single-family home ($993,000) driving up estimated maintenance costs. According to Best Place<\/a>, the cost of living in Hawaii is 65.7% higher than the U.S. average.<\/p>\n While the usual suspects such as California and Massachusetts rounded out the top five, there were some surprising entrants \u2014 New Hampshire, for example, came in at No. 7 with average annual hidden costs of $23,256.<\/p>\n