The average homeowner pays $15,979 per year for insurance, maintenance, and property taxes, according to new research from online real estate platform Zillow and home repair project platform Thumbtack:

• $10,946 on maintenance
• $2,003 on homeowner’s insurance
• $3,030 on property taxes

On a monthly basis, that’s an additional $1,325 per month on top of a mortgage payment.

These hidden costs swelled due to a 48 percent surge in insurance premiums in the past five years.

Hidden costs are highest in already expensive coastal metro areas, exceeding $24,000 in New York and $22,000 in San Francisco.

Costs have increased 4.7 percent in the past year, while household incomes rose just 3.8 percent, the report found.

The squeeze is sharpest in expensive coastal metros, where annual hidden costs reach $24,381 in New York City, $22,781 in San Francisco, and $21,320 in Boston.

In Miami, insurance premiums average $4,607 per year, up 72 percent in the past five years.

Other Florida metros have seen similar spikes, including Jacksonville (72 percent), Tampa (69 percent), and Orlando (68 percent).

Outside of Florida, insurance costs increased 79 percent in New Orleans, 59 percent in Sacramento, 58 percent in Atlanta, and 56 percent in Riverside, California.

“Insurance costs are rising nearly twice as fast as homeowner incomes,” said Kara Ng, Zillow senior economist. “It’s not just a budget line item. It’s a barrier to entry for aspiring first-time buyers and for families already stretched thin. Buyers who are already facing affordability challenges in today’s market need to understand and budget for these less obvious expenses when calculating how much home they can truly afford.”

Zillow estimated annual property tax and homeowners’ insurance costs for a typical U.S. homeowner, then compared year-over-year changes and pre-pandemic benchmarks. Thumbtack added estimates for the annual cost of home maintenance, plus preventive weather-related maintenance projects.

Thumbtack’s essential annual costs of home maintenance include: appliance maintenance, carpet cleaning, central air conditioning maintenance, deck staining and sealing, duct and vent cleaning, fireplace and chimney cleaning, full-service lawn care, gutter cleaning and maintenance, heating system maintenance, house cleaning, pressure washing, roof maintenance, sprinkler and irrigation system maintenance, tile and grout cleaning, tree trimming and removal, water heater maintenance and window cleaning.

Pricing data is based on projects requested on Thumbtack and reported directly by the independent service professional or individual customers. The cost is an unweighted index of all yearly home maintenance projects and is calculated quarterly using a moving average.