Property Taxes Rise Across Every Major Metro, Adding To Borrower Affordability Pressure

Property taxes climbed across all 50 of the nation's largest metropolitan areas between 2023 and 2024, adding another affordability challenge for borrowers already grappling with elevated mortgage rates, insurance costs, and home prices.According to a new LendingTree analysis, the median annual property tax bill nationwide reached $3,119 in 2024, up 5.1%, or roughly $150, from the previous year. That translates to about $260 per month in housing costs before homeowners account for mortgage principal, interest, insurance, or HOA fees.