A man mowing the lawn in front of a house.
The average American homeowner spends $623,290 on the expenses of owning a home.
  • The average American pays $623,290 over the time of owning a home, fintech company Self found.
  • Taxes, household repairs, and home improvements contribute to the high costs of being a homeowner.
  • Here are 10 states, including Ohio and Iowa, where homeownership is less than the national average.

Any savvy home buyer knows the costs of homeownership don't stop at the closing table. But a new study finds the payments a homeowner makes over the span of living in a home are almost twice as much as the cost of the average US house.