Washington homeowners are facing some of the steepest hidden costs of homeownership in the country, according to a recent Bankrate.com study. The Evergreen State ranks fifth nationwide, with residents paying an average of $27,444 annually in expenses beyond their mortgage.
These hidden costs include property taxes, homeowners’ insurance, utilities, maintenance, and even internet and cable bills. Bankrate’s analysis combined internal data with Consumer Price Index adjustments to calculate the average hidden costs across all 50 states.
Hawaii and California topped the list with annual hidden costs exceeding $30,000, while West Virginia and Mississippi offered the most affordable homeownership, with average hidden costs below $15,000 per year.
Linda Bell, senior writer for Bankrate’s Home Lending team and author of the study, highlighted Washington’s particularly high maintenance expenses, which rank third in the nation.
“Home maintenance is really something that you can’t ignore,” Bell told The Center Square. “For homes that are 40 years old or older, replacing the roof, HVAC systems, and other necessary repairs can be incredibly expensive.”
Bell also noted that Washington ranks fourth for the highest internet and cable costs in the nation, adding to the financial strain for homeowners — a problem compounded by rising inflation.
She urged homeowners to closely monitor their bills, especially those on auto-pay. “Auto-pay is convenient, but sometimes rate hikes can slip by unnoticed,” she explained.
The Building Industry Association of Washington (BIAW) echoed the study’s findings, citing a combination of factors driving up homeownership costs.
“While Washington doesn’t have a state income tax, local governments heavily rely on property taxes and levies to fund services — and the Legislature just gave them more authority to raise taxes without a vote of the people,” said Janelle Guthrie, BIAW’s Vice President of Communication.
Guthrie also pointed to increasing utility costs and expensive building code updates as key contributors. “New energy codes often require costly upgrades to heating, ventilation, and insulation systems — especially efforts to force electrification and ban natural gas,” she added.
The hidden homeownership costs study aligns with Bankrate’s 2025 Housing Affordability Study, which paints a grim picture for prospective homeowners nationwide. That report found Americans now need an annual household income of at least $116,986 to comfortably afford a home — a sharp contrast to stagnant wage growth.
“Wages simply aren’t keeping pace with skyrocketing home prices,” Bell said. “For existing homeowners, appreciation is a silver lining, but for those trying to enter the market, high mortgage rates and home prices, combined with these hidden costs, have made homeownership increasingly out of reach. That’s really a sad reality for many Americans today.”
