Neighbors Bank reports that rising property taxes and homeowners insurance now consume over 21% of monthly mortgage payments in many U.S.
A Neighbors Bank report across nearly 450 metro areas found that property taxes and homeowners insurance average 21% of monthly mortgage payments. In Pensacola, Florida, they reached 43.6%. AI Summary ...
Average homeowners insurance reached $1,952 annually, up 8.5%. Insurance now represents 9% of typical monthly mortgage payments. Construction costs rose 4-5% while core inflation hovers around 2.28%.
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