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Bruno Venditti
2024-07-02 11:36:30
www.visualcapitalist.com
See this visualization first on the Voronoi app.
The Most Expensive States to Maintain a Home
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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.
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.
The post The Most Expensive States to Maintain a Home appeared first on Visual Capitalist.
