Struggling Homeowners Feeling ‘House Poor’ Have More Breathing Room Than They Think

Homeownership has always come with costs beyond the mortgage payment, but for many Americans, those expenses are becoming harder and harder to manage.

A recent LendingTree survey found that 59% of mortgage holders consider themselves “house poor" in the current economy.

“Unfortunately, the costs don’t stop once homeowners get the keys. They’re also dealing with rising insurance premiums, property taxes, HOA fees, and more. This creates a really, really challenging situation,” says Matt Schulz, chief consumer financial analyst at LendingTree in Charlotte, NC.

And yet, if you’re a homeowner struggling to keep up with rising costs, there are still some ways to lower your bills each month and create breathing room in your budget.

Why homeowners are spending more

Homeowners are getting hit on all sides because life is just so expensive in 2026. 

The LendingTree survey found that rising property taxes and homeowners insurance premiums are two of the biggest stressors for those who own a home. Unfortunately, some first-time homeowners simply don’t realize their mortgage payment often includes more than the payment on the actual loan. 

“It can also include escrow payments for property taxes and homeowners insurance. It may also account for PMI if your loan requires it. If any of those individual costs rise, your mortgage payment can rise, too, and that’s exactly what many homeowners are facing today,” adds Schulz.

Of course, there’s also home repair and maintenance costs that come along with owning a home—and those costs tend to shoot up if you add in the expense of raising a family.

“I have three boys, and we spend at least $500 a week on groceries. I also have school expenses, extracurricular activities, clothing, and medical expenses,” says Jennifer Taylor, public adjuster and the CEO and founder of Claim Ready in Macon, GA.

All these expected (and unexpected) costs are shrinking many homeowners’ financial wiggle room.

Perhaps then it should come as no surprise that 50% of respondents in the LendingTree survey said they couldn’t make a full payment at least once in the past year.

What to do if homeownership is getting too expensive 

If you’re finding it harder to afford your home, the best way to give yourself some breathing room is to focus on what you control.

First, review and update your budget.

“You can’t make a plan to tackle rising expenses without knowing exactly how much money is coming in and going out of your household each month,” says Schulz.

Next, shop around and get home insurance quotes from at least three different companies.

“Shop your insurance every six months instead of letting it auto-renew. Loyalty is quite expensive in this market,” explains Colton Pace, co-founder and CEO at Ownwell in Austin, TX.

Another option is to appeal your property tax assessment, especially if you can prove your home is worth less than its assessed value. This strategy can slash your property tax bill and put more money in your pocket.

"It's free or nearly free in most states, and most homeowners have never done it, mostly because they didn't know they had the right,” Pace says.

Also, make sure you claim every homestead exemption you qualify for as doing so can help you save on property taxes as well. Check with your county tax assessor or property appraiser’s office to see if you’re eligible for one.

In addition, Taylor recommends tackling home maintenance yourself when possible.

“Just know your limitations. There are repairs you can safely and properly handle yourself, and there are others where hiring a professional is worth the expense. The goal is to save money without creating a much more expensive problem later,” Taylor adds.

Lastly, be proactive. Don’t wait until you’ve missed a mortgage payment to ask your lender for help. Depending on your situation, options like a temporary payment reduction, forbearance, or a loan modification may be available. 

“It can be hard to make yourself vulnerable in that way, but it is important, and the lender is more likely to be receptive before a payment has been missed than later on,” explains Schulz.