CNBC: extra housing costs $23,000

CNBC reported on May 22 that U.S. homeowners now face more than $23,000 a year in costs beyond the mortgage, adding a new pressure point to an already strained affordability picture. The tally includes property taxes, homeowners insurance, utilities and maintenance, according to the report. CNBC said those costs sit on top of a borrower’s principal and interest payment and can keep rising even when the mortgage note is fixed. A separate May 2026 survey commissioned by Jobber found 60% of recent buyers said owning a home had been more expensive than they expected, CNBC reported. ### Where does the $23,000 figure come from? Bankrate said in its 2025 Hidden Costs of Homeownership Study that the average annual cost of owning and maintaining a single-family home nationwide was $21,400. That study counted expenses beyond the mortgage, including property taxes, homeowners insurance, utility and energy bills, internet and cable, and a home maintenance budget. (cnbc.com) CNBC’s May 22 story put the current average at more than $23,000 a year and framed the increase as part of a broader jump in ownership costs. CNBC had reported in June 2024 that hidden costs averaged $18,118 annually, or about $1,510 a month, based on Bankrate data at the time. ### Which expenses are doing the damage? Homeowners insurance is one visible driver. (bankrate.com) Bankrate said the national average cost of homeowners insurance in the U.S. is $2,424 per year for a policy with $300,000 in dwelling coverage, and a separate Bankrate report put the average annual premium at $2,470. CNBC said the other recurring costs are less predictable than a fixed-rate mortgage payment. (cnbc.com) Zachary Mineur, a certified financial planner and chief investment officer at Independence Square Advisors, told CNBC that “the biggest mistake is taking the ‘fixed’ part in a fixed mortgage literally.” That warning refers to taxes, insurance, maintenance and utility bills that can move higher after closing. (bankrate.com) ### Why does this change the affordability conversation? Bankrate said ongoing homeownership costs often come as a surprise after the purchase. In its 2025 Home Affordability Report, the company said 42% of homeowners with at least one regret about their purchase cited ongoing maintenance and hidden costs being more expensive than expected. CNBC’s framing shifts the discussion from note rate alone to total monthly housing cost. (cnbc.com) Bankrate’s consumer guidance on buying a home also says ongoing expenses extend beyond the mortgage payment to taxes, insurance and maintenance. For loan officers and brokers, that gives a concrete basis for cash-flow discussions rather than rate-only comparisons. (bankrate.com) ### What should borrowers ask before they buy? Bankrate’s studies show these costs vary widely by state and by home value, which means national averages can understate the bill in higher-cost markets. CNBC’s earlier state-by-state coverage said hidden costs in 2024 averaged $1,510 a month nationally and ran much higher in states such as Hawaii and California. (cnbc.com) A practical borrower checklist starts with four line items: property taxes, insurance, utilities and a maintenance reserve. CNBC said those expenses can rise over time, and Jobber’s May 2026 survey suggests many recent buyers did not fully budget for them before closing. ### What numbers should brokers keep handy now? CNBC’s May 22 article gives brokers a current headline number: more than $23,000 a year in extra ownership costs. (cnbc.com) Bankrate’s 2025 study provides the underlying categories and a prior benchmark of $21,400, while its 2024 study showed $18,118. Together, those figures let brokers show how affordability can change after closing even when the mortgage payment itself is stable. (cnbc.com) Bankrate’s next state-level updates and CNBC’s follow-up housing coverage will be the places to watch for fresh cost comparisons as 2026 progresses. (cnbc.com)