Homeowners in the U.S. with dwelling coverage of $450,000 see average rates of $3,118 per year, while those with $750,000 in coverage can expect to pay more than $4,500. (Credit: Andrii Yalanskyi/Adobe Stock)

A combination of rising home values and increasing insurance rates has left some homeowners struggling to afford their homes — sometimes paying even more for these expenses than for their mortgage itself.

In September of this year, 32% of the average single-family mortgage payment went to insurance and property taxes — the highest rate recorded in the last decade — according to the Intercontinental Exchange. Note that this analysis is based on those who use escrow accounts to pay their taxes and insurance alongside their monthly mortgage.

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