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Shopping for a house is a milestone, however after the shifting truck leaves you continue to should deal with it — roofs leak, paint peels, home equipment break. Sadly for owners, the price of upkeep goes up.
A brand new report by Thumbtack — a web based platform that connects owners to handymen, contractors and different house professionals — examined the price of greater than 100,000 upkeep jobs within the 40 largest U.S. metropolitan markets. The prices have been reported straight by shoppers or service professionals and have been restricted within the research to upkeep work, reminiscent of repairs to home equipment and HVAC techniques, landscaping and window washing.
Nationally, the typical annual upkeep value of single-family properties throughout the first quarter of 2023 was $6,409, up about 9 p.c yr over yr. Townhouse prices rose about 4 p.c and rental prices rose lower than 2 p.c.
For single-family properties, prices fell in solely seven of the 40 metros; New York Metropolis, for one, noticed the annual value fall 5 p.c over a yr, to $7,351, whereas in Portland, Ore., it fell about 12 p.c, to $7,334. Even nonetheless, the 2 metros ranked because the fifth and sixth most costly locations to take care of a house. Value drops close to the opposite finish of the spectrum have been present in Columbus, Ohio, the place the annual upkeep value fell 16 p.c, to $4,783, and in Greenville, S.C., the place it fell 10 p.c, to $5,353.
In different locales, together with Florida, the place excessive climate typically inflates upkeep budgets, prices rose considerably. Orlando noticed a 32 p.c spike, to $5,422, whereas Miami noticed a 39 p.c spike, to $6,988.
This week’s chart exhibits the 15 U.S. metros with the best and lowest annual upkeep prices and the way the prices modified over a yr.
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