A recent analysis by Zillow Group Inc. highlights that the hidden costs of homeownership have surged to nearly $16,000 per year nationwide, not including mortgage payments. This figure, based on data from Zillow and Thumbtack, encompasses annual expenses such as maintenance ($10,946), homeowners insurance ($2,003), and property taxes ($3,030). These costs have risen 4.7% in the past year, outpacing the 3.8% growth in household incomes. A key driver is the sharp increase in insurance premiums, which have jumped 48% nationwide since early 2020. Certain regions have been hit especially hard: premiums in Miami now average $4,607 per year-a 72% increase over five years-while other Florida cities and major metros like New Orleans and Sacramento have also experienced significant spikes. The analysis warns that these escalating costs are straining affordability, particularly in expensive coastal cities, and are creating additional barriers for aspiring homebuyers.