The cost of owning a home in the US has risen by 26% since 2020 due to increased household expenses like taxes, insurance, and utilities during a period of high economic inflation. The average annual cost of owning and maintaining a typical single-family home reached $18,118 (€16,840), up by about $300 (€280) compared to four years ago. Maintenance is the biggest part of homeownership costs, with Utah experiencing the highest increase at 44%, followed by Idaho at 39% and Hawaii at 38%. Annual costs range from $11,559 (€10,745) in Kentucky to $29,015 (€26,970) in Hawaii.
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