Costs beyond the mortgage
| Cost | Typical amount | Notes |
|---|---|---|
| Property tax | 0.3% to 2.5% of value a year | Varies by state and county; can be reassessed. |
| Homeowners insurance | About 0.3% to 1%+ a year | Higher in coastal and storm-prone areas. |
| PMI | 0.3% to 1.5% of loan a year | Under 20% down on conventional loans. |
| Maintenance | About 1% of value a year | More for older homes; costs are uneven. |
| Utilities | $150 to $400 a month more than renting | Depends on size, climate and age. |
| HOA | $0 to $500+ a month | Check special assessments. |
The "not recovered" figure is money that does not come back as equity: interest, taxes, insurance, upkeep and closing costs. It excludes any change in the home's price. Compare it with rent in the rent vs buy calculator.