Real Estate
Hawaii is the Most Expensive State to Maintain a Home
What We’re Showing
The average annual cost of owning and maintaining a single-family home in the top 15 most expensive states in the U.S.
Methodology
Bankrate aggregated the average costs of property taxes, homeowners insurance, and home maintenance costs (estimated at 2% a year of the value of a single-family home). It also included energy, internet, and cable bills. All figures adjusted for inflation, as of June 2024.
Key Takeaways
- The average annual cost of owning and maintaining a single-family home in the U.S. is more than $18,000 a year, 26% higher now compared to 2020.
- With an average annual cost of $29,015, Hawaii is the most expensive state to maintain a home.
- Property taxes in New Jersey average $10,026 a year, the highest in the nation.
Dataset
State | Average annual home ownership costs, 2024 | Percent change, 2020 vs. 2024 |
---|---|---|
Hawaii | $29.0K | 38% |
California | $28.8K | 32% |
Massachusetts | $26.3K | 28% |
New Jersey | $25.6K | 25% |
Connecticut | $23.5K | 24% |
Washington | $23.4K | 32% |
New Hampshire | $23.3K | 29% |
New York | $22.8K | 25% |
Rhode Island | $22.0K | 27% |
Colorado | $21.0K | 33% |
Vermont | $19.8K | 29% |
Maryland | $19.7K | 23% |
Oregon | $19.2K | 24% |
Florida | $19.2K | 33% |
Utah | $19.1K | 44% |
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