Morning Becomes Electrocuted: Utility Costs Jack up Home Expenses

Jun 06, 2017

The next time you turn on a light switch or flush the toilet, be aware that you could be adding to your housing expenses. According to a new white paper published by ATTOM Data Solutions, utility costs—including electricity, natural gas, water and sewer—add 25 percent to monthly housing costs for homeowners and 21 percent to housing costs for renters on average nationwide.

ATTOM Data Solutions determined that monthly utility costs require seven percent of average wages on average across 931 counties analyzed for its white paper. When utility costs are included, the cost of buying a median-priced home requires more than the 43 percent of income recommended by the Consumer Financial Protection Bureau (CFBP) in 323 of the 931 counties, or 35 percent of the markets analyzed.

But energy efficient green technology solutions can offer a way to cut those costs. The white paper included an analysis of the impact of solar installation on home seller profits in California between 2010 and 2017, with the conclusion that California home sellers with a solar system installed between their original purchase and their sale of the home realized average profits that were more than double the average profits realized by home sellers without a photovoltaic array on their property.

“Utility costs are a significant, quantifiable factor contributing to the overall costs and risks involved with owning or renting a home,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “On the other hand, reducing utility costs—specifically energy costs through the installation of solar—can amplify the wealth-building potential of homeownership.”

About the author

Phil Hall

Link copied

Published

Jun 06, 2017

Opinion

Seller Impersonation Fraud Is Evolving. Is the Mortgage Industry Evolving Fast Enough?

AI and increasingly sophisticated wire fraud are raising the stakes at the closing table, forcing lenders to rethink how they verify identities, counterparties, and payment instructions

For years, the mortgage industry has spent a lot of money on spotting borrower fraud at the start of the loan process. But one of the growing fraud threats today may show up later — when the loan is approved, the closing is set, and hundreds of thousands of dollars are about...

Analysis and Data

Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Home sellers are finally giving buyers some ground. The problem is mortgage rates are taking it right back.More than one in five homes listed for sale — 20.8% — had a price reduction in September, the highest share in nearly four years, according to Realtor.com's latest Mont...

Nov

Houston, TX

More from

Industry News

Garg Claims Majority In Better Fight, Board Poised To Honor Vote

Founder says he secured more than 51% of voting power to remove five directors, pending confirmation by a third-party inspector

C-Suite Strategies

Oct 01, 2026

Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Industry News

Sep 29, 2026

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026