When we were researching home ownership costs, more often than not the mortgage calculators did not truly help us understand what our month-to-month cost would actually be. We've fixed that with an enhanced calculator which pulls in data from various sources to give you a more complete picture of home ownership.
Estimate your monthly home ownership costs based on your location and property details. Please note that this calculator is based on state-level estimates and will not be 100% accurate.
Monthly Mortgage Payment (P&I): $0.00
Total Monthly Cost (with extras): $0.00
The monthly mortgage payment is only one element of the overall home ownership equation. A mortgage payment includes repayment of the loan principle and interest. In 2025 the average annual mortgage cost is $26,508 depending on factors like loan amount, interest rate and term length.
Private Mortgage Insurance (PMI) Is required for buyers with less than 20% down payment, PMI adds an average of $160 per month or $9,600 over five years.
Property taxes vary by location and are based on the assessed value of the home. In 2025, the average annual property tax is $3,057.
Insurance protects against damage or loss but has risen significantly in recent years. The average annual cost is $2,304 in 2025. Many homeowners report stress over rising premiums or difficulty maintaining coverage
Utility costs include electricity, water, gas, and waste disposal. In 2025, these expenses average $7,319 annually ($610 per month). Costs vary widely depending on home size, location, and energy efficiency.
Routine maintenance averages $6,087 annually in 2025. This includes tasks such as HVAC services, gutter cleaning and lawn care. Unexpected repairs can add significant costs. For example:
Foundation repairs: $2,196–$7,921.
Roof replacement: $5,700–$16,000.
Septic system repairs: $630–$9,500
Experts recommend budgeting 1–4% of a home’s value annually for maintenance and repairs
Your home may have an HOA cost or additional insurance which is not calculated by typical mortgage calculators like Zillow. HOAs and extra insurance like flood insurance can cost upwards of $1,000 or more per year.
In addition to mortgage payments averaging $26,508 annually in 2025, Non-mortgage expenses total approximately $24,529 per year ($2,044 monthly), bringing the combined annual cost to over $51,000 for many homeowners.
By accounting for these elements—both recurring and unexpected—homebuyers can better prepare for the true financial impact of owning a home in America today.
Please note that mortgage calculators are not 100% accurate. While we do our best to provide you with general estimates, please work with a professional to understand what your final cost will be.