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69% of U.S. homeowners pay higher electricity rates than they’re used to

Last updated 11/16/2022

Iparraguirre Recio/Moment/Getty images

Key points

  • 87% of U.S. homeowners have noticed an increase in household expenses over the summer.
  • 89% of homeowners worry about being able to meet their monthly household expenses.
  • 69% of homeowners have noticed higher electricity prices than they’re accustomed to during the summer.
  • To cut costs, 78% of homeowners turn off lights when not using them, and 58% use energy-efficient light bulbs.

As the U.S. inflation rate in September reached8.2% year over year, American homeowners continue to feel the impact of rising prices on their monthly household expenses. In a new® survey of 1,421 adult homeowners, 87% have noticed an increase in household expenses over the past summer. 90% of those who own a home are concerned about the impact of inflation on their monthly household expenses.

The highest household expense among survey respondents over the past summer was electricity (69%), followed by water use (44%), utility gas service (43%), cable services/TV subscriptions (34%), and internet prices (30%).

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