Hippo’s 2026 Housepower Report reveals rising home maintenance challenges and costs

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Hippo (NYSE: HIPO) has released its fourth annual Housepower Report, which examines how homeowners are navigating affordability, maintenance, and protection amid rising costs and climate risk.

“Homeowners are feeling better about their homes than they have in years, but that sentiment is being tested by rising costs and growing gaps in preparedness,” said Hippo President and CEO Rick McCathron. “As homes age and extreme weather brought by climate change intensifies, homeowners need better tools, clearer guidance, and protection plans that help them stay ahead of unexpected expenses. At Hippo, we use deep home expertise and property data to help homeowners protect their investment with insurance and proactive home care insights designed for today’s risks.”

Key Findings from the 2026 Housepower Report:

Homebuyer Satisfaction Continues to Increase

Homebuyer regret has declined from pandemic-era highs. While 63% of homeowners reported regret in Hippo’s 2021 Housepower report, a majority today (56%) say they have no regrets about their purchase. For those who do report regret, top concerns are less about the home itself and more about ongoing costs, upkeep, and long-term maintenance responsibilities. Most plan to stay in their current home for at least five years (68%).

Affordability and location are now the top drivers of home selection. In 2025, one-third of homeowners cited staying within budget and proximity to work, school, or family as their most important factors. As buyers prioritize affordability and location, many are purchasing older homes bringing new maintenance and protection challenges.

Aging Homes Drive a Greater Maintenance Need

As more homeowners purchase older homes, maintenance demands are increasing, often faster than their ability to keep up. A majority of homeowners surveyed purchased previously owned homes (57%), and more than half (51%) were built before 1990. With the median U.S. home now 40 years old,1 seasonal maintenance is critical to preventing costly damage.

Homeowners acknowledge they’re still catching up on maintenance and upkeep to combat the risks of older homes. In 2025, 57% of homeowners said they did not prioritize home maintenance enough. Commonly overlooked maintenance tasks include HVAC servicing (71%), plumbing checks (69%), gutter cleaning (69%), and inspecting seals in areas prone to water damage (75%).

Home issues are also shifting inward. In 2025, the most common home problems were plumbing (34%), appliance breakdowns (32%), and critical system failures (23%).

In 2026, homeowners plan to be more hands-on. More than eight in 10 homeowners intend to take on DIY maintenance, with many hoping to save money (57%), gain a sense of personal accomplishment (36%), and maintain greater control over projects (30%). But only 34% of homeowners report being able to complete basic DIY projects with some confidence. While many homeowners plan to take on more DIY work, low confidence levels suggest this shift is driven more by financial pressure than preference.

Homeownership Costs Are Straining Budgets

Home-related costs posed a significant strain on household budgets, with 76% of responding homeowners reporting that at least one home-related issue impacted their financial stability in 2025. Gen Z felt the strain most, with 85% facing financial instability tied to homeownership, compared to 67% of Baby Boomers. Unexpected repairs alone impacted 33% of homeowners.

Maintenance budgets are tightening. The share of homeowners budgeting $500-$4,500 annually increased to 58% in 2025 (up from 39% in 2024), while those budgeting $6,501 or more dropped from 35% in 2024 to 14% in 2025. Nearly one in five homeowners (18%) reported not budgeting for maintenance at all, roughly double last year’s figure.

Shrinking budgets may reflect homeowners taking on more maintenance themselves but may also point to broader cost-of-living pressures causing homeowners to divert funds elsewhere.

Homeowners Feel Less Prepared for Extreme Weather

Preparedness remains a concern as homeowners face increasing weather-related risks. Exposure to heat waves (34%), strong winds or tornadoes (27%), and cold weather or frost (24%) continues to rise. Yet only 32% of homeowners say they feel confident in their ability to prepare for extreme weather events, which is a 19% decline from 2024.

Homeowners who reported more confidence in extreme weather preparedness were more likely to have purchased add-on insurance coverage, or an insurance rider (66%). Gen Z leads adoption, with 76% purchasing at least one rider. Millennials follow with 68%, while Gen Xers (59%) and Boomers (49%) trail behind. The most common insurance riders include replacement cost coverage, flood insurance, and water backup or sump pump overflow protection.