Homeownership affordability improved slightly in July as mortgage interest rates moderated, the Federal Reserve Bank of Atlanta reported Friday.
Tag: Homeownership
Insurify: Hidden Costs Add More Than $21,000 Annually to Homeownership Cost
Non-mortgage expenses such as home and flood insurance, property taxes, utilities and maintenance add more than $21,000 annually to the total cost of homeownership on average, according to a new report from Insurify, Cambridge, Mass.
Hidden Costs of Homeownership Average $21,400 Annually, Bankrate Reports
The average annual hidden costs associated with homeownership for a single-family home in the United States total $21,400, a new study from Bankrate found.
82% Consider Homeownership Part of the American Dream, Bankrate Finds
More than eight in 10 Americans consider homeownership to be part of the American Dream, up from 78% last year and 74% in 2023, according to Bankrate, New York.
More Americans Say Homeownership Is Not Attainable, KeyBank Finds
KeyBank, Cleveland, released its 2025 Financial Mobility Survey, finding that 46% of survey respondents who don’t currently own a home say it’s not attainable for them.
Gen Z, Millennial Homeownership Rates Flat in 2024, Redfin Finds
Redfin, Seattle, found that homeownership rates for Gen Z and millennials were stagnant in 2024.
Cost of Owning, Maintaining a Home Up 26% Since 2020, Bankrate Finds
The average annual cost of owning and maintaining a single-family home in the U.S. is 26% higher now than four years ago, according to Bankrate, New York.
Buyers Willing to Give Up Land in Exchange for Homeownership
High mortgage rates and double-digit growth in home prices since COVID-19 are forcing home buyers to compromise on lot size and square footage to afford a house, the National Association of Home Builders reported.
Many Aspiring Homeowners Cite Cost of Living, Insufficient Income as Roadblocks: Bankrate
More than half of aspiring homeowners say the current cost of living is too high or their income is not high enough to afford a down payment and closing costs for a home (51% and 54% respectively), reported Bankrate, New York.
95% of Millennials Report Facing Barriers to Homeownership, Survey Finds
While 78% of millennials say purchasing a home is part of the American dream, 48% don’t think homeownership is affordable for the average member of their generational cohort.