Facts + Statistics: Homeowners and renters insurance

 
Homeowners insurance expenditures

The average homeowners insurance premium rose by 3.1 percent in 2018, following a 1.6 percent increase in 2017, according to a January 2021 study by the National Association of Insurance Commissioners, the latest data available. The average renters insurance premium fell 0.6 percent in 2018 marking the fourth consecutive annual decline. Renters insurance premiums fell 2.7 percent in 2017. (See tables in Expenditures for homeowners and renters insurance section).

 
Home inventories

On average, over nine survey years ending in 2020, 49 percent of homeowners said they prepared an inventory of their possessions to help document losses for their insurers, according to polls conducted for the Insurance Information Institute (Triple-I). Forty-three percent of homeowners said they had an inventory in the 2020 Triple-I Consumer Poll. The survey showed that homeowners in the South and West were more likely to have a home inventory (48 percent and 41 percent), followed by homeowners in the Northeast and Midwest (both regions at 39 percent).

 
Sinkhole claims

In March 2013 an entire house fell into a huge sinkhole in a suburb of Tampa, Florida, garnering national attention. Although such large, sudden and destructive sinkholes are relatively rare, thousands of small sinkholes appear in the U.S. each year. The most damage from sinkholes occurs in Florida, Texas, Alabama, Missouri, Kentucky, Tennessee and Pennsylvania, according to the U.S. Geological Survey. Most homeowners insurance policies exclude coverage for sinkhole damage. However, homeowners insurance companies in Florida and Tennessee are required to offer the coverage. In Florida catastrophic ground cover collapse is mandatory; comprehensive sinkhole coverage is optional. (Note: For information on the Florida law see http://www.insuringflorida.org/articles/sinkholes.html. For statistics on Florida sinkholes see http://www.floir.com/sections/pandc/sinkholepage.aspx).

 
Causes of homeowners insurance losses

In 2018, 5.7 percent of insured homes had a claim, according to ISO. Property damage, including theft, accounted for 98.1 percent of those claims. Changes in the percentage of each type of homeowners loss from one year to another are partially influenced by large fluctuations in the number and severity of weather-related events such as hurricanes and winter storms. There are two ways of looking at losses: by the average number of claims filed per 100 policies (frequency) and by the average amount paid for each claim (severity). The loss category “water damage and freezing” includes damage caused by mold, if covered. Every state except Alaska, Arkansas, New York, North Carolina and Virginia has adopted an ISO mold limitation for homeowners insurance coverage, which allows insurers to exclude the coverage unless the condition results from a covered peril.

 
Homeowners Insurance Losses, 2014-2018 (1)

 

  Total homeowner losses   Total homeowners losses
Year Claim
frequency (2)
Claim
severity (3)
Year Claim
frequency (2)
Claim
severity (3)
2014 5.19 $11,319 2017 6.36 $16,517
2015 5.92 11,748 2018 5.73 15,855
2016 4.94 12,628 Average (4) 5.64 $13,814

(1) For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes tenants and condominium policies. Excludes Alaska, Texas and Puerto Rico.
(2) Claims per 100 house years (policies).
(3) Average amount paid per claim; based on accident year incurred losses, excluding loss adjustment expenses, i.e., indemnity costs per accident year incurred claims.
(4) Weighted average, 2014-2018.

Source: ISO®, a Verisk Analytics® business.

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  • In 2018, 5.7 percent of insured homes experienced a claim, compared with 6.4 percent in 2017.
  • Homeowners insurance losses, net of reinsurance, fell slightly to $56.2 billion in 2018 from $56.5 billion in 2017, according to S&P Global Market Intelligence.

 
Homeowners Insurance Losses By Cause, 2014-2018 (1)

(Percent of losses incurred)

Cause of loss 2014 2015 2016 2017 2018
Property damage (2) 96.0% 96.4% 96.4% 98.0% 98.1%
     Wind and hail 28.8 21.1 32.8 41.7 34.4
     Fire and lightning  24.6 22.2 25.9 32.8 32.7
     Water damage and freezing 33.6 45.8 30.5 18.4 23.8
     Theft 2.4 1.8 1.8 1.0 1.0
     All other property damage (3) 6.7 5.6 5.4 4.1 6.2
Liability (4) 4.0 3.6 3.6 2.0 1.9
     Bodily injury and property damage 3.9 3.4 3.4 1.9 1.8
     Medical payments and other 0.2 0.2 0.2 0.1 0.1
Credit card and other (5) (6) (6) (6) (6) (6)
Total 100.0% 100.0% 100.0% 100.0% 100.0%

(1) For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes tenants and condominium owners policies. Excludes Alaska, Texas and Puerto Rico.
(2) First party, i.e., covers damage to policyholder's own property.
(3) Includes vandalism and malicious mischief.
(4) Payments to others for which policyholder is responsible.
(5) Includes coverage for unauthorized use of various cards, forgery, counterfeit money and losses not otherwise classified.
(6) Less than 0.1 percent.

Source: ISO®, a Verisk Analytics® business.

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Average Homeowners Losses, 2014-2018 (1)

(Weighted average, 2014-2018)

Cause of loss Claim frequency (2) Claim severity (3)
Property damage (4) 5.53 $13,687
     Fire and lightning 0.28 79,785
     Wind and hail 2.30 11,200
     Water damage and freezing 2.05 10,849
     Theft 0.26 4,391
     All other (5) 0.64 6,598
Liability (6) 0.11 20,371
     Bodily injury and property damage 0.08 26,872
     Medical payments and other 0.03 3,707
Credit card and other (7) (8) $8,273
Average (property damage
and liability), 2014-2018
5.64 $13,814

(1) For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes tenants and condominium owners policies. Excludes Alaska, Texas and Puerto Rico.
(2) Claims per 100 house years (policies).
(3) Accident year incurred losses, excluding loss adjustment expenses, i.e., indemnity costs per accident year incurred claims.
(4) First party, i.e., covers damage to policyholder's own property.
(5) Includes vandalism and malicious mischief.
(6) Payments to others for which policyholder is responsible.
(7) Includes coverage for unauthorized use of various cards, forgery, counterfeit money and losses not otherwise classified.
(8) Less than 0.01.

Source: ISO®, a Verisk Analytics® business.

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  • In the five-year period, 2014-2018, 5.6 percent of insured homes had a claim. Wind and hail accounted for the largest share of claims, with 2.3 percent of insured homes having such a loss, followed closely by water damage and freezing with 2.1 percent of homes having a loss.

Homeowners Insurance Claims Frequency*

  • Homeowners claims related to wind or hail are the most frequent; the costliest are related to fire and lightning.
  • About one in 20 insured homes has a claim each year.
  • About one in 40 insured homes has a property damage claim related to wind or hail each year.
  • About one in 50 insured homes has a property damage claim caused by water damage or freezing each year.
  • About one in 350 insured homes has a property damage claim related to fire and lightning.
  • About one in 400 insured homes has a property damage claim due to theft each year.
  • About one in 900 homeowners policies has a liability claim related to the cost of lawsuits for bodily injury or property damage that the policyholder or family members cause to others.

*Insurance Information Institute calculations, based on ISO®, a Verisk Analytics® business, data for homeowners insurance claims from 2014-2018 (see table above).

 
Homeowners Losses Ranked By Claims Severity (Average Claim), 2014-2018 (1)

(Weighted average, 2014-2018)

(1) For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes tenants and condominium owners policies. Accident year incurred losses, excluding loss adjustment expenses, i.e., indemnity costs per accident year incurred claims. Excludes Alaska,Texas and Puerto Rico.
(2) Includes coverage for unauthorized use of various cards, forgery, counterfeit money and losses not otherwise classified.
(3) Includes vandalism and malicious mischief.

Source: ISO®, a Verisk Analytics® business.

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Homeowners Losses Ranked By Claims Frequency, 2014-2018 (1)

(Weighted average, 2014-2018)

(1) Claims per 100 house years (policies). For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes tenants and condominium owners policies. Excludes Alaska,Texas and Puerto Rico.
(2) Includes vandalism and malicious mischief.
(3) Includes coverage for unauthorized use of various cards, forgery, counterfeit money and losses not otherwise classified.

Source: ISO®, a Verisk Analytics® business.

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Consumer prices

The Bureau of Labor Statistics consumer price index (CPI) tracks changes in the prices paid by consumers for a representative basket of goods and services. The cost of living (all items) rose 1.2 percent in 2020. The cost of motor vehicle insurance declined significantly, down 4.6 percent, as insurers nationwide returned over $14 billion to their customers in response to reduced driving during the Covid-19 pandemic. The cost of tenants and household insurance declined slightly, down 0.5. percent. Hospital services rose faster than overall inflation, up 4.2 percent, and total medical care rose 4.1 percent.

 
Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 2011-2020 (Cont'd)

(Base: 1982-84=100)

  Used cars and trucks Tenants and
household insurance (3), (4)
Repair of
household items (3), (5)
Legal services Existing single-
family homes
Year Index Percent change Index Percent change Index Percent change Index Percent change Median price ($000) Percent change
2011 149.0 4.1% 127.4 1.4% NA NA 297.4 3.2% $166 -4.0%
2012 150.3 0.9 131.3 3.1 198.7 NA 303.5 2.0 177 6.5
2013 149.9 -0.3 135.4 3.1 206.7 4.0% 311.8 2.8 197 11.4
2014 149.1 -0.5 141.9 4.8 212.4 2.8 318.5 2.1 208 5.7
2015 147.1 -1.3 146.4 3.2 220.1 3.6 323.6 1.6 224 7.5
2016 143.5 -2.5 147.7 0.9 226.3 2.8 334.5 3.4 236 5.2
2017 138.3 -3.6 148.8 0.7 239.3 5.8 346.4 3.6 247 4.7
2018 138.4 0.1 150.7 1.3 253.7 6.0 361.2 4.3 259 4.9
2019 139.8 1.0 151.8 0.7 268.7 5.9 364.8 1.0 272 5.0
2020 144.2 3.2 151.1 -0.5 270.0 0.5 368.721 1.1 NA NA
Percent change,
2011-2020
  -3.2%   18.6%   35.9% (6)   24.0%   NA

(1) December 1996=100.
(2) December 1983=100.
(3) December 1997=100.
(4) Only includes insurance covering rental properties.
(5) Includes appliances, reupholstery and inside home maintenance.
(6) 2012-2020.

Note: Percent changes are calculated from unrounded data.

Source: U.S. Department of Labor, Bureau of Labor Statistics; National Association of Realtors.

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Expenditures for homeowners and renters insurance

The average homeowners insurance premium rose by 3.1 percent in 2018, following a 1.6 percent increase in 2017, according to a January 2021 study by the National Association of Insurance Commissioners, the latest data available. The average renters insurance premium fell 0.6 percent in 2018 marking the fourth consecutive annual decline. Renters insurance premiums fell 2.7 percent in 2017.

 
Average Premiums For Homeowners And Renters Insurance, 2009-2018

 

Year Homeowners (1) Percent change Renters (2) Percent change
2009 $880 6.0% $184 1.1%
2010 909 3.3 185 0.5
2011 979 7.7 187 1.1
2012 1,034 5.6 187 (3)
2013 1,096 6.0 188 0.5
2014 1,132 3.3 190 1.1
2015 1,173 3.6 188 -1.1
2016 1,192 1.6 185 -1.6
2017 1,211 1.6 180 -2.7
2018 1,249 3.1 179 -0.6

(1) Based on the HO-3 homeowner package policy for owner-occupied dwellings, 1 to 4 family units. Provides all risks coverage (except those specifically excluded in the policy) on buildings and broad named-peril coverage on personal property, and is the most common package written.
(2) Based on the HO-4 renters insurance policy for tenants. Includes broad named-peril coverage for the personal property of tenants.
(3) Less than 0.1 percent.

Source: © 2020 National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or distribution strictly prohibited without written permission of NAIC.

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  • The U.S. homeownership rate fell slightly in the third quarter of 2020 to 67.4 from 67.9 in the second quarter, after increasing for four consecutive quarters, according to the U.S. Census Bureau. The 2010 Census showed that in some of the largest cities renters outnumbered owners, including New York, where 69.0 percent of households were occupied by renters, followed by Los Angeles (61.8 percent), Chicago (55.1 percent) and Houston (54.6 percent).

 

 
Average Premiums For Homeowners And Renters Insurance By State, 2018 (1)

 

  Homeowners Renters   Homeowners Renters
State Average
premium (2)
Rank (3) Average
premium (4)
Rank (3) State Average
premium (2)
Rank (3) Average
premium (4)
Rank (3)
Alabama $1,409 13 $222 5 Montana $1,237 22 $147 45
Alaska 984 36 175 22 Nebraska 1,569 9 149 42
Arizona  843 46 175 22 Nevada 776 48 182 18
Arkansas  1,419 12 211 7 New Hampshire 984 36 148 44
California (5) 1,073 31 178 21 New Jersey 1,209 24 160 32
Colorado  1,616 7 164 29 New Mexico 1,075 30 186 13
Connecticut  1,494 11 188 12 New York 1,321 16 189 10
Delaware 873 45 157 35 North Carolina 1,103 28 158 34
D.C. 1,264 21 157 35 North Dakota 1,293 18 126 51
Florida  1,960 2 185 14 Ohio 874 44 169 26
Georgia  1,313 17 214 6 Oklahoma 1,944 4 236 2
Hawaii  1,140 27 181 19 Oregon 706 51 161 30
Idaho  772 49 152 40 Pennsylvania 943 40 157 35
Illinois  1,103 28 166 27 Rhode Island 1,630 5 185 14
Indiana  1,030 33 172 24 South Carolina 1,284 19 184 17
Iowa  987 35 144 47 South Dakota 1,280 20 127 50
Kansas  1,617 6 172 24 Tennessee 1,232 23 195 8
Kentucky  1,152 26 166 27 Texas (6) 1,955 3 225 4
Louisiana  1,987 1 234 3 Utah 730 50 155 38
Maine  905 42 149 42 Vermont 935 41 153 39
Maryland  1,071 32 161 30 Virginia  1,026 34 152 40
Massachusetts  1,543 10 191 9 Washington 881 43 160 32
Michigan  981 38 185 14 West Virginia 970 39 189 10
Minnesota  1,400 14 140 49 Wisconsin 814 47 143 48
Mississippi  1,578 8 252 1 Wyoming 1,187 25 146 46
Missouri  1,383 15 179 20 United States $1,249   $179  

(1) Includes state funds, residual markets and some wind pools.
(2) Based on the HO-3 homeowner package policy for owner-occupied dwellings, 1 to 4 family units. Provides all risks coverage (except those specifically excluded in the policy) on buildings and broad named-peril coverage on personal property, and is the most common package written.
(3) Ranked from highest to lowest. States with the same premium receive the same rank.
(4) Based on the HO-4 renters insurance policy for tenants. Includes broad named-peril coverage for the personal property of tenants.
(5) Data provided by the California Department of Insurance.
(6) Texas data were obtained from the Texas Department of Insurance.

Note: Average premium=Premiums/exposure per house years. A house year is equal to 365 days of insured coverage for a single dwelling. The NAIC does not rank state average expenditures and does not endorse any conclusions drawn from this data.

Source: © 2020 National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or distribution strictly prohibited without written permission of NAIC.

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Average Homeowners Insurance Premiums Ranked By State, 2018 (1)

 

Rank (2) State Average premium Rank (2) State Average premium
1 Louisiana $1,987 27 Hawaii $1,140
2 Florida 1,960 28 Illinois 1,103
3 Texas (3) 1,955 29 North Carolina 1,103
4 Oklahoma 1,944 30 New Mexico 1,075
5 Rhode Island 1,630 31 California (4) 1,073
6 Kansas 1,617 32 Maryland 1,071
7 Colorado  1,616 32 Indiana 1,030
8 Mississippi 1,578 32 Virginia  1,026
9 Nebraska 1,569 35 Iowa 987
10 Massachusetts 1,543 36 Alaska 984
11 Connecticut 1,494 37 New Hampshire 984
12 Arkansas 1,419 38 Michigan 981
13 Alabama 1,409 39 West Virginia 970
14 Minnesota 1,400 40 Pennsylvania 943
15 Missouri 1,383 41 Vermont 935
16 New York 1,321 42 Maine 905
17 Georgia 1,313 43 Washington 881
18 North Dakota 1,293 44 Ohio 874
19 South Carolina 1,284 45 Delaware 873
20 South Dakota 1,280 46 Arizona  843
21 District Of Columbia 1,264 47 Wisconsin 814
21 Montana 1,237 48 Nevada 776
23 Tennessee 1,232 49 Idaho 772
24 New Jersey 1,209 50 Utah 730
25 Wyoming 1,187 51 Oregon 706
26 Kentucky 1,152   United States $1,249

(1) Includes policies written by Florida Citizens Property Insurance Corp. and Louisiana Citizens Property Insurance Corp., Alabama Insurance Underwriting Association, Massachusetts Property Insurance Underwriting Association, Michigan Basic Property Insurance Association, Mississippi Windstorm Underwriting Association and Residential Property Insurance Underwriting Association, New Jersey Insurance Underwriting Association, North Carolina Joint Underwriting Association, Ohio Fair Plan Underwriting Association, Rhode Island Joint Reinsurance Association and South Carolina Wind and Hail Underwriting Association, and Virginia Property Insurance Association. Other southeastern states have wind pools in operation and their data may not be included in this chart. Based on the HO-3 homeowner package policy for owner-occupied dwellings, 1 to 4 family units. Provides all risks coverage (except those specifically excluded in the policy) on buildings and broad named-peril coverage on personal property, and is the most common package written.
(2) States with the same premium receive the same rank.
(3) The Texas Department of Insurance developed home insurance policy forms that are similar but not identical to the standard forms. In addition, due to the Texas Windstorm Association (which writes wind-only policies) classifying HO-1, 2 and 5 premiums as HO-3, the average premium for homeowners insurance is artificially high.
(4) Data provided by the California Department of Insurance.

Note: Average premium=Premiums/exposure per house years. A house year is equal to 365 days of insured coverage for a single dwelling. The NAIC does not rank state average expenditures and does not endorse any conclusions drawn from this data.

Source: © 2020 National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or distribution strictly prohibited without written permission of NAIC.

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Top 10 Writers Of Homeowners Insurance By Direct Premiums Written, 2019

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm $18,685,957 18.0%
2 Allstate Corp. 8,723,238 8.4
3 USAA Insurance Group 6,835,804 6.6
4 Liberty Mutual 6,745,864 6.5
5 Farmers Insurance Group of Companies 5,943,814 5.7
6 Travelers Companies Inc. 4,240,933 4.1
7 American Family Insurance Group 4,057,499 3.9
8 Nationwide Mutual Group 3,244,683 3.1
9 Chubb Ltd. 2,989,474 2.9
10 Erie Insurance Group 1,746,390 1.7

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Homeowners Insurance Industry Losses And Underwriting Expenses, 2019 (1)

 

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 68.7%
    Incurred losses 59.8
    Defense and cost containment expenses incurred 1.7
    Adjusting and other expenses incurred 7.1
Operating expenses (3)  
Expense ratio 28.6%
    Net commissions and brokerage expenses incurred 12.3
    Taxes, licenses and fees 2.6
    Other acquisition and field supervision expenses incurred 8.2
    General expenses incurred 5.5
Dividends to policyholders (2) 0.6%
Combined ratio after dividends (4) 97.9%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($90.5 billion in 2019).
(3) As a percent of net premiums written ($93.0 billion in 2019).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Home injuries

In 2018, 25 million Americans experienced an unintentional injury in the home that required aid from a medical professional, according to an analysis by the National Safety Council (NSC). Injuries requiring medical attention occur more often at home than in public places, the workplace and motor vehicle crashes combined, according to the NSC. There were 89,300 deaths from unintentional home injuries in 2018, down 1.4 percent from 2017. The overall death rate has remained almost unchanged over the past 100 years, at 27.3 deaths per 100,000 people in 2018 from 28 deaths per 100,000 people in 1912. However, the number of unintentional home injury deaths has increased by 150 percent since 1999, largely due to increases in unintentional poisonings and falls. Drug overdoses are largely responsible for the poisoning deaths and there has been an increase in older adult falls.

 
Unintentional Home Deaths And Injuries, 2018

 

Deaths 89,300
Medically consulted injuries 25,000,000
Death rate per 100,000 population 27.3
Costs $320.1 billion

Source: National Safety Council estimates based on data from National Center for Health Statistics and state vital statistics departments.

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Principal Types Of Home Unintentional Injury Deaths, 2018

 

(1) Inhalation and ingestion of food or other object that obstructs breathing.

Source: National Safety Council estimates based on data from National Center for Health Statistics and state vital statistics departments.

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  • Falls are the leading cause of hospital-treated unintentional injuries, according to the Home Safety Council.

 
 

 
High-risk markets

Myriad programs in place across the United States provide insurance to owners of property in high-risk areas who may have difficulty obtaining coverage from the standard market. Residual, shared or involuntary market programs make basic insurance coverage more readily available. Today, property insurance for the residual market is provided by Fair Access to Insurance Requirements (FAIR) plans, beach and windstorm plans, and two state-run insurance companies in Florida and Louisiana: Florida’s Citizens Property Insurance Corp. and Louisiana’s Citizens Property Insurance Corp. Established in the late 1960s to ensure the continued provision of insurance in urban areas, FAIR plans often provide property insurance in both urban and coastal areas. Beach and windstorm plans cover predominantly wind-only risks in designated coastal areas. Over the past four decades FAIR and beach and windstorm plans experienced explosive growth both in the number of policies and in exposure value. However, the number of policies in FAIR plans peaked in 2011 and has been falling steadily. The total number of policies fell 48.5 percent from 2011 to 2019, while exposure dropped by 51.0 percent.

 
Renters and homeowners demographics

In 2019, 64.6 percent of housing units were owner occupied and 35.4 percent were renter occupied, according to the latest U.S. Census figures. In 2019, 32.1 percent of owner-occupied units housed people age 65 and over. The same year, 16.2 percent of rental units housed people over age 65.

The nation's homeowners paid a median of $1,510 monthly housing costs in 2019, compared with $1,301 for renters, according to the latest American Housing Survey from the Census.

However, renters usually paid a higher percentage of their household income on these costs than did owners, 45.1 percent compared with 26.5 percent of homeowners who spent 30 percent or more of their income on housing costs in 2019.

 

 
Percent Of Occupied Housing Units That Are Owner Occupied, 2019

 

State Percent Rank (1) State Percent Rank (1)
Alabama 68.8% 15 Montana 68.9% 14
Alaska 64.7 38 Nebraska 66.3 27
Arizona 65.3 35 Nevada 56.6 48
Arkansas 65.5 33 New Hampshire 71.0 7
California 54.9 49 New Jersey 63.3 40
Colorado 65.9 32 New Mexico 68.1 17
Connecticut 65.0 37 New York 53.5 50
Delaware 70.3 11 North Carolina 65.3 35
District of Columbia 41.5 51 North Dakota 61.3 46
Florida 66.2 28 Ohio 66.0 30
Georgia 64.1 39 Oklahoma 65.5 33
Hawaii 60.2 47 Oregon 62.9 42
Idaho 71.6 5 Pennsylvania 68.4 16
Illinois 66.0 30 Rhode Island 61.7 45
Indiana 69.3 13 South Carolina 70.3 11
Iowa 70.5 10 South Dakota 67.8 18
Kansas 66.5 24 Tennessee 66.5 24
Kentucky 67.0 22 Texas 61.9 44
Louisiana 66.5 24 Utah 70.6 9
Maine 72.2 2 Vermont 70.9 8
Maryland 66.8 23 Virginia 66.1 29
Massachusetts 62.2 43 Washington 63.1 41
Michigan 71.6 5 West Virginia 73.4 1
Minnesota 71.9 3 Wisconsin 67.2 20
Mississippi 67.3 19 Wyoming 71.9 3
Missouri 67.1 21 United States 64.1%  

(1) States with the same percentages receive the same rank.

Source: U.S. Department of Commerce, Census Bureau; American Community Survey.

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  • In 2019 West Virginia, Maine, Minnesota and Wyoming had the highest percentage of owner-occupied housing units.
  • The District of Columbia had the lowest percentage of owner-occupied units, followed by New York, California, Nevada, and Hawaii.

 

 
Percent Of Mortgaged Owners Occupied Units Spending 30 Percent Or More Of Their Income On Homeownership Costs (1)

 

State Percent (1) Rank (2) State Percent (1) Rank (2)
Alabama 22.6% 35 Montana 28.9% 10
Alaska 27.1 16 Nebraska 19.6 47
Arizona 25.5 22 Nevada 28.3 13
Arkansas 21.5 39 New Hampshire 29.1 7
California 36.9 2 New Jersey 32.5 3
Colorado 27.9 14 New Mexico 27.5 15
Connecticut 30.6 6 New York 31.3 5
Delaware 25.1 25 North Carolina 23.2 33
D.C. 25.2 24 North Dakota 16.3 51
Florida 32.2 4 Ohio 19.7 46
Georgia 24.2 29 Oklahoma 20.5 43
Hawaii 40.9 1 Oregon 28.8 11
Idaho 23.5 30 Pennsylvania 23.4 31
Illinois 25.5 22 Rhode Island 29.1 7
Indiana 18.7 50 South Carolina 23.4 31
Iowa 18.8 49 South Dakota 22.5 36
Kansas 19.3 48 Tennessee 22.8 34
Kentucky 21.2 41 Texas 26.5 17
Louisiana 24.6 26 Utah 24.3 28
Maine 25.8 20 Vermont 25.9 19
Maryland 26.0 18 Virginia 24.5 27
Massachusetts 29.0 9 Washington 28.6 12
Michigan 22.1 38 West Virginia 20.0 45
Minnesota 20.7 42 Wisconsin 21.3 40
Mississippi 25.6 21 Wyoming 22.4 37
Missouri 20.4 44 United States 26.5%  

(1) Percent of mortgaged owner-occupied housing units spending 30 percent or more of household income on selected owner costs such as all mortgage payments (first mortgage, home equity loans, etc.), real estate taxes, property insurance, utilities, fuel and condominium fees if applicable.
(2) States with the same percentages receive the same rank.

Source: U.S. Department of Commerce, Census Bureau; American Community Survey.

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  • In 2019, Hawaii, California, New Jersey and Florida had the highest homeownership costs, based on the percentage of homes in which owners spent 30 percent or more of their income on homeowner-ownership related expenses.
  • North Dakota, Indiana, Iowa and Kansas had the lowest costs, based on the percentage of homes in which owners spent 30 percent of more of their income on homeowner-ownership expenses.

 

 
Percent Of Renter Occupied Units Spending 30 Percent Or More Of Their Income On Rent And Utilities, 2019

 

State Percent (1) Rank (2) State Percent (1) Rank (2)
Alabama 40.9% 35 Montana 41.1% 33
Alaska 41.0 34 Nebraska 38.4 47
Arizona 43.4 22 Nevada 48.2 5
Arkansas 38.6 45 New Hampshire 44.3 19
California 50.7 2 New Jersey 46.6 9
Colorado 47.7 6 New Mexico 41.7 31
Connecticut 46.3 11 New York 47.3 8
Delaware 46.6 9 North Carolina 42.6 25
D.C. 40.6 37 North Dakota 35.5 51
Florida 52.4 1 Ohio 40.4 38
Georgia 44.8 16 Oklahoma 39.5 42
Hawaii 49.7 4 Oregon 45.5 14
Idaho 42.7 24 Pennsylvania 43.6 21
Illinois 42.4 26 Rhode Island 45.9 13
Indiana 41.7 31 South Carolina 42.0 28
Iowa 38.6 45 South Dakota 35.9 50
Kansas 39.5 42 Tennessee 42.1 27
Kentucky 38.3 48 Texas 44.8 16
Louisiana 44.4 18 Utah 41.8 29
Maine 39.8 41 Vermont 50.6 3
Maryland 47.4 7 Virginia 42.9 23
Massachusetts 46.3 11 Washington 45.3 15
Michigan 44.3 19 West Virginia 36.3 49
Minnesota 41.8 29 Wisconsin 40.0 40
Mississippi 40.2 39 Wyoming 39.5 42
Missouri 40.7 36 United States 45.1%  

(1) Percent of renter-occupied units spending 30 percent or more on rent and utilities such as electric, gas, water and sewer, and fuel (oil, coal, etc.) if paid by the renter.
(2) States with the same percentages receive the same rank.

Source: U.S. Department of Commerce, Census Bureau; American Community Survey.

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  • Nationwide, 45.1 percent of renters spent at least 30 percent of their household income on rent and utilities in 2019.
  • In 2019 North Dakota, South Dakota, West Virginia and Kentucky had the lowest percentage of rental units in which occupants spent 30 percent or more of their income on rent. Florida, California, Vermont and Hawaii had the highest percentage.

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