Welcome to theTRUE COST OF HOMEOWNERSHIP CALCULATOR
Where you can put a number on what it will take to own a particular home.
Start with the house payment, add what you know about the monthly operating expenses, and complete your Owner’s Reserve details.
When you’re done, you’ll actually have two important numbers: your True Monthly Cost and your True Cost of Homeownership.
Mortgage, property taxes, insurance, and HOA dues combined are the house payment portion of the debt-to-income ratio. Use what you know now and adjust as needed.
Used for utility and market estimates below
≈ $40,000
Purchase price minus down payment
Turned on automatically since your down payment is under 20%. Uncheck it if yours doesn't apply.
Auto-estimated from your down payment — rates vary significantly by lender, credit score, and loan program, enter your own lender quote if you have one.
Principal and interest are usually your largest fixed monthly cost. Mortgage insurance requirements, cost, duration, and cancellation rules vary by loan program. Verify the rules and estimated cost for the specific loan you are considering.
Auto-calculated from the annual figure
Enter 0 if there's no HOA
Property tax rates vary by county and state. Insurance depends on the home's age, roof condition, and local weather risk. HOA dues, when present, are just as fixed and recurring as taxes and insurance, which is why they're included here. For the most accurate insurance figure, a quote from a licensed insurance professional will beat any estimate.
Now add what it costs to operate the home.
The ongoing costs of running the home day to day, power, gas, water, trash, and internet, plus routine maintenance and upkeep.
We'll estimate typical utility costs using the ZIP code you entered above.
Utility costs vary with home size, age, insulation quality, and climate. Electricity is estimated from EIA state-level average rates, adjusted by AI for local climate and ZIP-specific factors. Other utility categories are estimated by AI based on regional context, not live utility rates, compare all of these against actual bills from the seller or local utility provider before relying on them. These costs begin the month you take ownership and continue for as long as you hold the property.
$400,000 × 0.54% ÷ 12 = $180/mo
Maintenance is estimated at 0.54% of your home's purchase price per year, based on National Association of Home Builders (NAHB) data on typical routine maintenance and repair costs. This covers predictable, ongoing upkeep like lawn care, gutters, filters, and general wear, not major system replacements, which are calculated separately below in your Owner's Reserve.
Add a reserve for system repair and replacement.
Think of this like paying yourself HOA dues: money set aside now so it's there when a big home expense eventually comes up, instead of being a surprise.
Enter the current age of each system below to see your monthly reserve update in real time.
| System | Age (years) | Typical lifespan | Median replacement cost | Monthly reserve |
|---|---|---|---|---|
| Roof | yrs | 25 years | $14,500 | $80.56 |
| HVAC | yrs | 17 years | $9,838 | $91.09 |
| Water Heater | yrs | 10 years | $1,550 | $25.83 |
Owner's Reserve Seed
If you're starting with money already set aside for repairs and replacements, enter it here.
A credit line reserved only for system repairs and replacements, not other spending. This is borrowing capacity, not savings, using it creates a balance you'd need to repay with interest.
Planning Reserve: An estimated monthly allocation for future maintenance, repairs, and replacement of major components. It is not a bill due each month, and actual costs and timing will vary.
Replacement costs vary by region: coastal and West Coast markets often exceed the rural Midwest or Southeast due to labor rates and building codes, so a local contractor quote will be more accurate than any national figure. A system already past its typical lifespan is treated as due within the next year. This reserve is not part of a pre-approval letter or closing disclosure, but it's a real, recurring cost of ownership. Building it is optional, common alternatives without one include a credit card, a family loan, or borrowing against home equity. It's worth reviewing this estimate with a financial advisor to confirm it fits your specific plans.
Roof cost is based on Angi's 2026 cost data for architectural shingle roof replacement. HVAC cost is based on 2026 data from Angi and Pearl, reflecting a full system replacement rather than a single component. Water heater cost is based on 2026 data from Angi, HomeAdvisor, and Homewyse for a standard tank-style unit, not tankless.
Luxury-tier figures are based on specific luxury ZIP codes nationwide (PropertyShark 2025 rankings), including Medina, WA (98039); Beverly Hills and Bel Air, CA (90210, 90077); Sagaponack, NY (11962); Fisher Island, FL (33109); Naples, FL; Greenwich, CT; Aspen, CO; and Paradise Valley, AZ.
See your True Cost of Homeownership.
The House Payment
- Mortgage (P&I + PMI)$2,425/mo
- Taxes, Insurance & HOA$458/mo
Monthly Operating Expenses
- Utilities$370/mo
- Maintenance$180/mo
= True Cost of Homeownership
$3,631/mo
You can run up to 2 more properties in this same session, then get every report in a single email.
What's your next step?
See how your bank's rate measures up
Get Pre-ApprovedNot ready yet?
Build Your Plan for HomeownershipNot ready to buy, but it's time to move?
Plan Your Next RentalActual costs will vary by property, region, and other factors. Talk with your financial planner and real estate advisor about this estimate.
Common questions
What is the true cost of homeownership?
It's the full monthly picture of owning a home, not just the mortgage payment. Your house payment (principal, interest, taxes, insurance, and HOA dues if applicable) plus your monthly operating expenses (utilities and routine maintenance) make up your True Monthly Cost of Homeownership, what you should expect to pay out of pocket every month. Add a reserve for larger repairs like a roof or water heater down the road, and you get your True Cost of Homeownership, the full planning number.
What's included in the true cost of owning a home beyond the mortgage?
Property taxes, homeowners insurance, and HOA dues if applicable. Utilities such as electricity, gas, water, trash, and internet. Routine maintenance like lawn care and gutter cleaning. And a monthly reserve for major system replacements, roof, HVAC, and water heater being the big three.
How much does home maintenance cost per month?
A commonly used starting point is 0.54% of your home's purchase price per year, based on National Association of Home Builders (NAHB) data on typical routine maintenance and repair costs. A $400,000 home would land around $180/month for routine upkeep. Actual costs vary by home age, condition, and region.
Can I use this calculator for a home anywhere in the United States?
Yes. You can enter property-specific and local cost information for homes throughout the United States. Some default figures and replacement-cost assumptions rely on regional or national data, so actual costs will vary by property and location.