What is your Base Housing Cost for 2022 (Tax + Insurance + HOA) w/o mortgage?

[steady saver]

interesting thread, thank you.

Texas property taxes are insane.

Our 2021 numbers are as follows:

1) 2400 square foot home inner city -

property taxes - $11,499
Flood insurance - $572
homeowner's insurance - $4,706
Total: $16,776 yearly or $1398 month

2) 30 acre farm with 2 houses (one recently renovated as a B&B or guest house and increase in taxes not reflected in last year's numbers) - roughly 1300 square feet and main house (needing some renovation) approx 2700 square feet

Property taxes: $3,690
homeowner's insurance: $3,612
Total: $7,302 year/$608

Wow. We are in the middle of trying to decide whether to drop one property, keep them both, or drop them all and start over somewhere else that isn't 1,000 degrees in the summer (which is roughly 8 months of the year) I'm tired of managing it all.

 

[aja8888]

interesting thread, thank you.

Texas property taxes are insane.

Have you seen NY, NJ, CT and PA posts above?

 

[steady saver]

Have you seen NY, NJ, CT and PA posts above?

yes. they will not be in my pool of relocation possibilities

 

[aja8888]

yes. they will not be in my pool of relocation possibilities

Mine either!

 

[Rianne]

Champaign, IL
2500 sq Ft ranch

$6200 property tax
No HOA

 

[RobLJ]

I'm estimating since DW is in Cali babysitting the grandkids, but

2400 sq foot house

a) 2800/yr property tax
b) 1200 insurance
c) 100$/quarterly HOA


The home is paid off, so Base Housing Cost inflation is not on my list of things to worry about. We moved from Houston, so NV "base housing costs" were a surprise. Now housing cost is a different matter but we bought in 2015.

 

[scrabbler1]

Nassau County, NY

I live in an apartment in a large co-op complex, so my housing expenses are allocated differently than those in houses, or even condos, are done.

Co-op maintenance costs: $8,124 (for 2022)
[That is mostly my share of the co-op's total property taxes and interest on its underlying mortgage; but it includes the costs of other financial and physical upkeep as well as my indoor garage parking spot.]
My own HO insurance policy: $222
[This is mostly a renters policy with some other coverages for co-op owners.]
State Property Tax Rebate: ($1,206)

Total: $7,140

 

[old medic]

2 houses on 4 acres...
Just paid our property tax for the year... early so we got a 2% break.
$524.41....
HOA...$0
Insurance.... $0 but $55 for an umbrella coverage.

 

[ShokWaveRider]

More folks should post their locations to make this thread more meaningful.

 

[teachme]

2 houses on 4 acres...
Just paid our property tax for the year... early so we got a 2% break.
$524.41....
HOA...$0
Insurance.... $0 but $55 for an umbrella coverage.

Interesting, if I'm reading correctly you're using an umbrella policy in lieu of a homeowners policy. Need to read the small print for my carrier because I would have thought they required that insurance prior to the umbrella taking effect.

 

[KarenF]

2020 (before we bought our current house) Property Tax 4,727.49

2021
Property Tax 5,357.05
Home Insurance $1504.01
HOA $960.00

2022
Property Tax 6,849.76
Home Insurance $1278.88 (changed insurance companies)
HOA $1000.00

$760.72/month

The Property Tax is the most shocking increase but we do get an exemption starting next year at 62 which will drop it by about 2/3 - yay!. I appealed the Property tax this year and was denied, and rightly so based on the housing price increases based on actual sales. We are in the Atlanta suburbs in unincorporated Cobb County. We moved here to be closer to the grandkids. We like the area and our house, and were very lucky to get it during the frenzy in 2021. No mortgage. Our goal was not to have a mortgage by the time we retired and we achieved that goal.

 

[KarenF]

Interesting, if I'm reading correctly you're using an umbrella policy in lieu of a homeowners policy. Need to read the small print for my carrier because I would have thought they required that insurance prior to the umbrella taking effect.

Our insurance company does require Homeowners Insurance before we can add the Umbrella.

 

[KarenF]

Just wondering: All the folks who don't have HOA dues, how do you treat your maintenance? We must fix/repair/replace stuff inside our condo (like a broken toilet or dish washer) but all external building maintenance is covered in our HOA dues. So, external painting, replace elevator, grounds upkeep, roof replacement, pool maintenance, etc., etc. is covered by HOA dues.

So those with HOA dues may be comparing apples to oranges here when it comes to housing costs. My maintenance on my old house was WAY more than my HOA dues. YMMV

Our HOA covers common grounds, the pool, etc. We still have to maintain the exterior of our house, roof, etc. there are condos in our neighborhood but they pay a significantly larger HOA fee to have their exteriors maintained.

 

[SumDay]

3500 SF home in the Midwest

Property Taxes: $5477
Insurance: $2156
HOA: $2244

TOTAL: $9877

We still have a small mortgage at a ridiculously low rate, which we chose to keep. It will be paid off in 4 years, or sooner if we get a wild hair.

Thanks for asking this. It's illuminating, and frankly shockingly more than I expected.

 

[EarlyandLate]

1234 sq ft condo in Atlanta metro


2022

Property tax: 3,392
Insurance: 336
HOA: 5940
monthly = 806


Costs were almost the same for 2021 which is surprising considering how much the value went up! The HOA covers all outside maintenance, pool, gym, water/sewer and trash. We just spent $2M on the building exterior and that is all covered in the HOA fee except for about 1.1K charged to me for my balcony floor refinishing (two balconies).

 

[EarlyandLate]

I have been really surprised at the lower tax bills reported by some of the Texans here. A few were what I expected. I lived in a small TX city 2012 - 2016 and was shocked at the cost of home owners insurance and taxes. I just looked up the property tax on my former SFH now valued at $240k. 2022 tax is $5088. When I lived there the insurance was $1.8k. I was told that the insurance was so high due to hail storms frequent enough that "no one ever has to pay for a new roof themselves". Sure enough, I got a new roof due to golf ball to baseball sized hail.

 

[PatrickA5]

3,500sqft house in the middle of the country

Prop Tax $4,200
Insurance $2,200
HOA $250

Total $6,650 $554/month

 

[ERPRECY]

Very good info.

2400 2 story home in CA (30 years old)
Property Tax - $4,250
Insurance - $1,560
No mortgage so about $485 a month

Rental house in HI
Property Tax - $1,200
Gross Receipts Tax - $1,350
Insurance - $700
HOA - $590
Monthly is about $320 a month

 

[almost there]

Been here 30 yrs last June. SoCal / Prop 13 allows me to stay.
Paid it off in 1999

Realty Tax 2021 = $4243
Home Insurance = $1400
HOA 1740
TOTAL = $7383 or $615 a month

Rental: Purchased in 2011
Paid off in 2013

Realty Tax 2021 = $3482
Home Insurance = $975
TOTAL = $4457 or $371 a month

 

[aja8888]

I have been really surprised at the lower tax bills reported by some of the Texans here. A few were what I expected. I lived in a small TX city 2012 - 2016 and was shocked at the cost of home owners insurance and taxes. I just looked up the property tax on my former SFH now valued at $240k. 2022 tax is $5088. When I lived there the insurance was $1.8k. I was told that the insurance was so high due to hail storms frequent enough that "no one ever has to pay for a new roof themselves". Sure enough, I got a new roof due to golf ball to baseball sized hail.

Property tax in Texas is dependent on the expenses of the county you are in and their financial position. There are 254 counties in the state. Also, where we are, in a Township, we have some benefits that most other areas of Texas do not have.

Homeowners insurance costs in the state vary as to where you are located. On the Gulf, it's high, but in north Texas, low. Obvious reasons apply.

For some reason, I constantly hear people say "Oh, you live in Texas so you must have high property taxes". Well, I just say I used to live in Connecticut so please go check theirs.

One thing about Texas is that we have no state income tax and over 40 other states have one and some have city income taxes. I used to work in Los Angeles and understand that system, which is not worker friendly.

 

[Koolau]

2 houses on 4 acres...
Just paid our property tax for the year... early so we got a 2% break.
$524.41....
HOA...$0
Insurance.... $0 but $55 for an umbrella coverage.

Heh, heh, I think we have a winner! Ding, ding, ding, ding, ding.