Homeownership is associated with numerous additional costs that can burden buyers, one of which is property fees. That includes dreaded costs like property tax, home insurance and homeowner association (HOA) fees.
CashNetUSA analyzed Zillow data to determine the U.S. neighborhoods that have the highest — and lowest — property fees relative to yearly home payments. In Houston, the Astrodome area is the most expensive: residents pay 46.88% of their yearly home payments in extra property fees, making it the sixteenth priciest neighborhood in the country for such expenses.
The Astrodome neighborhood was followed by Downtown at 43.04%, the Medical Center area at 41.47%, South Main at 39.74%, Sharpstown at 38.90%, Binz at 38.01%, Midtown at 37.87%, Neartown-Montrose at 36.22%, Greater Inwood at 35.94% and the Greenway-Upper Kirby area at 35.60%.
On the flip side, the Houston neighborhood with the least expensive property fees is Hunters Creek Village, where residents can expect to pay 25.72% of their yearly home payments on extra fees.
Hunters Creek Village was followed by the Meyerland area at 26.94%, Willow Meadows-Willowbend at 27.90%, Golfcrest-Bellfort-Reveille at 27.91%, the Briarforest area at 27.97%, Kingwood at 28.02%, Lake Houston at 28.09%, Northshore at 28.17%, Highland Glen at 28.19% and Cloverleaf at 28.26%.
Nationwide, the neighborhood with the most expensive property fees was Prospect Lefferts Gardens in New York City, where residents pay 68.85% of their yearly home payments on property fees; the least expensive neighborhood was DC Ranch in Scottsdale, Arizona, where residents pay only 13.16% in fees.
Emily Marek
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