Country guide · United States
Ongoing property costs in the United States
Property tax, insurance, HOA fees and utilities – what ownership costs after the purchase.
Updated: 04/10/2026
In brief
- Property tax is set locally and based on assessed value
- Standard homeowners insurance usually excludes flood and earthquake damage
- HOA or condo fees cover shared areas and reserves
- Escrow accounts can bundle tax and insurance into the monthly payment
Property tax
Counties, cities, school districts and other local bodies levy tax on assessed value, and rates differ widely between states and counties. Exemptions such as homestead or senior exemptions can reduce the taxable value in many jurisdictions.
Insurance
A standard policy covers the dwelling and liability. Flood and earthquake cover are normally separate policies or programmes, and lenders in some areas require flood cover.
HOA and condo fees
Monthly fees maintain common areas, insurance and reserves. Review the budget, the reserve study and the rules before buying – special assessments can be raised later for large repairs.
Escrow and impound
Many lenders collect property tax and insurance monthly and pay them on your behalf. That raises the monthly payment but removes lump-sum due dates.
Official sources and further reading
National starting points only. State, provincial and territorial rules may add further requirements.
Professionals in United States
Documented profiles of agents, developers, managers, investors and architects, listed in a neutral order.
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General information, not legal, tax or financial advice.