(Bloomberg) — The cost of owning a home in the US has increased 26 per cent since 2020, as expenses including taxes, insurance and utilities all soared during a period of high inflation across the economy.

The average annual outlay for owning and maintaining a typical single-family home — not including mortgage payments — totalled $18,118 in March, the personal finance website Bankrate found. That works out to $1,510 a month, roughly $300 more than four years earlier, when pandemic lockdowns began.