The Most Expensive States to Maintain a Home

The New Diplomat
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Buying a house is the American dream, but maintaining that property in good shape can be challenging for homeowners.

This map shows the 15 most expensive states in the U.S. to maintain a single-family home.

Methodology: Bankrate aggregated the average costs of property taxes, homeowners insurance, and home maintenance costs (estimated at 2% per year of the value of a single-family home). Calculations also included energy, internet, and cable bills. All figures adjusted for inflation as of June 2024.
Hawaii is the Most Expensive State to Maintain a Home

The average annual cost of owning and maintaining a single-family home in the U.S. is more than $18,000 yearly, a 26% increase compared to 2020.

With an average annual cost of $29,015, Hawaii is the most expensive state to maintain a home.

California comes in second with an average annual ownership cost of $28,790, followed by Massachusetts with $26,313.

Rank State Average annual home ownership costs, 2024 Percent change, 2020 vs. 2024
1 Hawaii $29.0K 38%
2 California $28.8K 32%
3 Massachusetts $26.3K 28%
4 New Jersey $25.6K 25%
5 Connecticut $23.5K 24%
6 Washington $23.4K 32%
7 New Hampshire $23.3K 29%
8 New York $22.8K 25%
9 Rhode Island $22.0K 27%
10 Colorado $21.0K 33%
11 Vermont $19.8K 29%
12 Maryland $19.7K 23%
13 Oregon $19.2K 24%
14 Florida $19.2K 33%
15 Utah $19.1K 44%
U.S. Average $18.2K 26%

Property taxes in New Jersey average $10,026 annually, the highest in the nation.

States with the Least Expensive Homeownership Costs

Kentucky is the least expensive place to own a home, with an average annual cost of $11,559, followed by Arkansas ($11,692) and Mississippi ($11,881).

If you enjoyed this post, be sure to check out this graphic, which shows what you need to earn to own a home in 50 American cities.

Source: Visual Capitalist 

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