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The hidden costs of homeownership are rising and have increased by nearly one-third in the last five years, as things like insurance, maintenance and property taxes take a bite out of homeowners' budgets.

A new report by Zillow and Thumbtack found that those costs amount to about $16,566 per year, which amounts to roughly $1,380 a month in addition to a mortgage payment.

Within the $16,566 total cost, the typical U.S. homeowner faces about $11,171 in annual maintenance, $2,266 on homeowners insurance, as well as $3,129 on property taxes.

"Many households focus so much on winning the home and underestimate what it costs to live in it," said Zillow senior economist Kara Ng. "Long after they receive the keys, insurance, taxes and upkeep are recurring expenses to plan for. Since these homeownership costs vary so much by market, home shoppers should run the numbers and understand what they can truly afford before they make an offer."

HOMEBUYERS GET AN ADVANTAGE IN DOZENS OF US CITIES – BUT PAY A STEEP PRICE

Hidden costs have risen in recent years, with the biggest jump occurring in homeowners insurance premiums, which are up 54% over the last five years.

Maintenance costs experienced the second-fastest growth rate and are up 32% over the past five years, while property taxes grew 19% in that period.

Overall homeownership costs increased 3% in the last year, but are up 32% over the past five years.

THE HOUSING MARKET COULD FINALLY BECOME AFFORDABLE AGAIN. HERE'S WHAT IT WOULD TAKE

The Zillow and Thumbtack analysis found that maintenance costs showed the clearest slowdown, as annual increases in maintenance costs eased in each of the last five years, slowing from 9% in 2022 to 1% in 2026.

Insurance is following a similar pattern, with premiums rising just 0.3% between February and June 2026.

"The slowdown in maintenance cost growth is welcome news for homeowners managing a lot of competing expenses," said Kendra Sinclair, Thumbtack's home trends expert. "Planning for regular upkeep throughout the year can help prevent bigger repair bills and protect your savings when something unexpected happens."

AFFORDABLE HOMES ARE STILL A REALITY IN THESE MAJOR US CITIES

The biggest increases in hidden homeownership costs were in a handful of metro areas. Insurance premiums have risen at least 50% over five years in 19 of the 30 metros analyzed, with the largest increases in Dallas (75%), Tampa (71%), Denver (70%) and Houston (69%).

Those insurance premium increases may be driven in part by severe weather, including hail, tornadoes and damaging winds.

Maintenance was the largest hidden cost in the country, covering about two-thirds of the national total, and was above $12,000 in six major metro areas, including Seattle ($12,594) and Boston ($12,486).

The sharpest uptick in maintenance expenses was in Los Angeles, with expenses up 27% year over year, which the analysis attributed to a mix of regional factors like wildfire-related recovery efforts, heightened demand for home services and persistently elevated labor costs.

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The Meta boss had said he would exit the state over a wealth tax that has not yet come into force.

Billionaire hedge fund founder Ken Griffin, Vornado Realty Trust and Rudin have finalized a joint venture to develop a 66-story Manhattan office skyscraper, securing a $3.3 billion construction loan for the project.

Vornado announced Wednesday that it had finalized the joint venture with Griffin and New York real estate firm Rudin to develop the 1.9 million-square-foot tower at 350 Park Avenue. Under the joint venture, an affiliate of Griffin, the founder and CEO of Citadel, will own 60% of the project, while Vornado will hold a 36% stake and Rudin will retain the remaining 4%.

Citadel Enterprise Americas LLC has signed a lease for 1.05 million square feet of office space in the skyscraper, representing more than half of the building's planned office space, according to Vornado.

META AGREES TO LET MARK ZUCKERBERG REMAIN IN CALIFORNIA AMID PROPOSED BILLIONAIRE WEALTH TAX

The project moves forward despite a feud earlier this year between Griffin and New York City Mayor Zohran Mamdani.

The controversy started in April, when Mamdani recorded a video in front of Griffin's penthouse, calling him out as a wealthy hedge fund owner who would be subject to the mayor's pied-à-terre tax, which is levied on high-value residential properties whose owners don't live in the city full-time. The tax took effect in July.

Griffin responded, calling the personal attack "creepy and weird," saying that it put him in harm's way and demonstrated a "profound lack of judgment" on Mamdani's part.

Citadel executives later suggested that the new office space could become a casualty of Mamdani's policies.

Mamdani eventually softened his rhetoric and thanked Griffin for his contributions to the city.

The multibillion-dollar construction loan will be provided by seven financial institutions, including Wells Fargo, JPMorgan Chase, Bank of America, BMO Bank, ING Capital, PNC Bank and Standard Chartered Bank.

Construction of the tower is already underway, Vornado said.

Designed by architecture firm Foster + Partners, the skyscraper will rise approximately 1,400 feet above Park Avenue and feature luxury amenities. Roughly 850,000 square feet of office space on the building's upper floors will be available for lease.

The development also includes financial contributions tied to New York City's Greater East Midtown rezoning initiative.

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According to Vornado, the project will contribute a combined $150 million toward the maintenance of St. Patrick's Cathedral and Saint Bartholomew's Church through the purchase of development rights.

FOX Business' Eric Revell contributed to this report.

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1. High-ranking Virginia state Democrat charged in public corruption case  NBC News
2. Feds charge L. Louise Lucas, powerful Virginia Democrat, in alleged drug scheme  CBS News
3. Feds charge Virginia Sen. Louise Lucas, 6 others in alleged marijuana racketeering scheme  WCYB
4. Powerful Democratic Virginia lawmaker Lucas is accused of leading a marijuana criminal conspiracy  Yahoo
5. Businesses tied to Sen. Lucas remain closed months after raid  WAVY.com

1. Virginia state Sen. Louise Lucas arrested, indicted on federal charges  USA Today
2. Virginia state senator indicted, accused of leading a marijuana distribution enterprise  Fox News
3. Virginia lawmaker L Louise Lucas charged over allegations she ran criminal marijuana scheme  BBC
4. Local cannabis shops closed on day of Sen. Lucas indictment  WAVY.com
5. High-ranking Virginia state Democrat charged in public corruption case  NBC News

The drop is a sharp reversal of a massive 2026 stock rally fueled by optimism over its personalized cancer vaccine.