Average monthly maintenance costs for homes U.S. 2017, by type
Homeowners’ association fees were the largest monthly maintenance costs for American homeowners in 2017 and amounted to 250 U.S. dollars. Property taxes, utility bills, and repairs and general maintenance costs were the next biggest maintenance costs in that year. Homeowners’ associations are organizations which make and enforce rules in the subdivision, condominium or planned housing community. Membership is a condition for buying a home within the community.
The rise of homeowners’ associations
The number of residents who were part of community associations is rising year-on-year. About 60 percent of these community associations are homeowners’ associations, whereas the remainder are condo communities or cooperatives. The volume of community associations is also increasing across the country.
Property taxes
Property taxes vary between states with the highest effective rates at over two percent and the lowest coming in at less than one percent. The states with the highest property tax rates are predominantly located on the east coast, whereas the states with property tax rates of less than one percent are mostly southern states.
The rise of homeowners’ associations
The number of residents who were part of community associations is rising year-on-year. About 60 percent of these community associations are homeowners’ associations, whereas the remainder are condo communities or cooperatives. The volume of community associations is also increasing across the country.
Property taxes
Property taxes vary between states with the highest effective rates at over two percent and the lowest coming in at less than one percent. The states with the highest property tax rates are predominantly located on the east coast, whereas the states with property tax rates of less than one percent are mostly southern states.
