Study: Miami homeowners have 6th highest hidden costs in US

Home insurance is the biggest perp

Among the country’s 100 largest metropolitan areas, Miami ranks sixth in hidden costs of homeownership, according to a new study by Realtor.

Miami’s average monthly home insurance of $298 ranked among the highest in the nation.

The study utilized the following criteria in all:

  • Property tax rates
  • Home insurance premiums
  • Remodeling costs
  • Maintenance and repair costs
  • Hourly rate of housekeepers, home cleaners, gardeners, and landscapers
  • Pest control costs
  • Electricity, heating oil, and natural gas bills
  • Household goods, like a 40-inch flat-screen TV, laundry detergent, and toilet paper.