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In Q3 of 2024, the average annual cost to maintain a single family home rose to an all-time high of $10,433, according to home renovation platform Thumbtack’s “Home Care Price Index.”
Do you think you could name the city associated with the most expensive ZIP code in your state? While some individuals could do this, others might be less familiar with their state's wealthiest ZIP...
ZCTAs or ZIP Code Tabulation Areas are the census equivalent of ZIP codes used for statistical purposes. The reason why regular ZIP codes are not used is because they are defined by routes rather than geographic boundaries. Thus, they have the tendency to overlap and otherwise create difficulties.
According to a BLS news release on September 9, 2020, average annual expenditures for all consumer units in 2019 were $63,036, a 3.0-percent increase from 2018, the U.S. Bureau of Labor Statistics reported today. During the same period, the Consumer Price Index (CPI-U) rose 1.8 percent and average income before taxes increased 5.4 percent.
As a renter, you won’t have to save for unexpected house maintenance costs. Instead, you can use your funds to build an investment portfolio. Many recommend starting with index funds.
Economists have noted increasing ownership of housing units by investors keeping the units vacant or renting them to the exclusion of traditional homebuyers. Investors bought about one of every seven U.S. homes in the first quarter of 2021, up from the prior three quarters, in which they bought closer to 1 in 10 homes. [30]
These costs may be incurred on a regular or irregular basis. Occupancy costs are those costs related to occupying a space including; rent, real estate taxes, personal property taxes, insurance on building and contents, depreciation, and amortization expenses. [ 1 ]
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