- The costs associated with owning a home vary widely across the US.
- Recently released Census data shows the median monthly cost for homeowners with a mortgage in each state.
- Coastal states like California, Hawaii, and New Jersey are particularly expensive, while Appalachian states like West Virginia and Arkansas are less so.
Owning a home can be expensive, and the costs associated with homeownership vary across the US.
The US Census Bureau recently released statistics from the 2017 American Community Survey, an annual program that asks millions of Americans each year about several social, economic, and demographic attributes. The Bureau publishes figures for each of the 50 states and Washington DC.
One of the measures on the survey is a set of selected monthly housing costs for homeowners with a mortgage. The costs include mortgage payments, real estate taxes, insurance, utilities and fuel, and, when applicable, condominium or mobile home fees.
Those median monthly costs vary widely across the states and DC. On the lower end are states in Appalachia like West Virginia, with a median homeowner cost of $US984, and Arkansas, at $US1,025. Coastal states like California, Hawaii, and New Jersey are on the higher end of the scale, and Washington, DC’s median homeowner cost of $US2,432 was the highest in the country.
- Read more about demographics, economics, and homeownership in the US:
- We did the maths to calculate how much money you need to save monthly to buy a home by 35
- There are only 10 states in the US with more men than women
- Here’s how old the typical person is in each US state
- Here’s how much more the typical baby boomer makes than the typical millennial in every US state
Business Insider Emails & Alerts
Site highlights each day to your inbox.