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.