Facts + Statistics: Homeowners and renters insurance

 
Homeowners insurance expenditures

The average homeowners insurance premium rose by 3.6 percent in 2015, following a 3.3 percent increase in 2014, according to a January 2018 study by the National Association of Insurance Commissioners, the latest data available. The average renters insurance premium fell 1.1 percent in 2015 after rising 1.1 percent in 2014. Florida had the highest average homeowners insurance premium in 2015 ($1,993) and Oregon had the lowest ($643). The countrywide average homeowners insurance premium was $1,173 in 2015. (See tables in Expenditures for homeowners and renters insurance section).

 
Causes of homeowners insurance losses

In 2017, 6 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.

 
Home inventories

On average, over the past nine years about half 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 (I.I.I.). Fifty-two percent of homeowners said they had an inventory in a June 2015 I.I.I. survey. The survey showed that homeowners in the South were more likely to have a home inventory (57 percent), followed by homeowners in the Northeast and West (56 percent and 50 percent, respectively). Only 43 percent of homeowners in the Midwest said they had an inventory.

 
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).

 
Homeowners Losses Ranked By Claims Severity (Average Claim), 2013-2017 (1)

(Weighted average, 2013-2017)

(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 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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Homeowners Losses Ranked By Claims Frequency, 2013-2017 (1)

(Weighted average, 2013-2017)

(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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Homeowners Insurance Losses, 2013-2017 (1)

 

  Total homeowners losses   Total homeowners losses
Year Claim
frequency (2)
Claim
severity (3)
Year Claim
frequency (2)
Claim
severity (3)
2013 4.87 $10,603 2016 5.12 $12,502
2014 5.23 11,274 2017 6.26 15,532
2015 6.04 11,721 Average (4) 5.51 $12,474

(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, 2013-2017.

Source: ISO®, a Verisk Analytics® business.

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  • In 2017, 6 percent of insured homes experienced a claim.
  • 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, 2013-2017 (1)

(Percent of losses incurred)

Cause of loss 2013 2014 2015 2016 2017
Property damage (2) 95.5% 95.8% 96.3% 96.6% 98.1%
     Fire and lightning  28.5 23.9 21.6 25.0 35.1
     Wind and hail 30.0 28.7 21.2 34.1 38.2
     Water damage and freezing 27.1 34.0 46.1 30.2 19.5
     Theft 3.4 2.4 1.7 1.8 1.0
     All other property damage (3) 6.4 6.8 5.6 5.5 4.4
Liability (4) 4.5 4.2 3.7 3.4 1.9
     Bodily injury and property damage 4.3 4.0 3.6 3.2 1.8
     Medical payments and other 0.2 0.2 0.2 0.2 0.2
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, 2013-2017 (1)

(Weighted average, 2013-2017)

Cause of loss Claim frequency (2) Claim severity (3)
Property damage (4) 5.39 $12,322
     Fire and lightning 0.28 68,322
     Wind and hail 2.10 10,182
     Water damage and freezing 2.05 10,234
     Theft 0.31 4,264
     All other (5) 0.66 5,823
Liability (6) 0.12 $19,531
     Bodily injury and property damage 0.08 26,085
     Medical payments and other 0.03 3,465
Credit card and other (7) (8) $368
Average (property damage
and liability), 2013-2017
5.51 $12,474

(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, 2013-2017, 5.5 percent of insured homes had a claim. Wind and hail accounted for the largest share of claims, with 2.1 percent of insured homes having such a loss, followed closely by water damage and freezing.

 

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 50 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 325 insured homes has a property damage claim due to theft each year.
  • About one in 360 insured homes has a property damage claim related to fire and lightning.
  • 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 2013-2017 (see table above).

 
Consumer prices

The Bureau of Labor Statistics collects the prices of a fixed “basket” of consumer goods and services every month to compile the consumer price index. The price of all types of insurance is heavily influenced by the cost of goods and services paid by insurers to meet.

 
Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 2009-2018 (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
2009 127.0 -5.2% 121.5 2.2% 176.0 3.5% 278.1 2.7% $172 -13.1%
2010 143.1 12.7 125.7 3.5 181.7 3.2 288.1 3.6 173 0.6
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 2 177 6.6
2013 149.9 -0.3 135.4 3.1 206.7 4.0 311.8 2.8 197 11.3
2014 149.1 -0.5 141.9 4.8 212.4 2.8 318.5 2.1 208 5.6
2015 147.1 -1.3 146.4 3.2 220.1 3.6 323.6 1.6 224 7.7
2016 143.5 -2.5 147.7 0.9 226.3 2.8 334.5 3.4 236 5.4
2017 138.3 -3.6 148.8 0.7 239.3 5.8 346.4 3.6 249 5.5
2018 138.4 0.1 150.7 1.3 253.7 6.0 361.2 4.3 262 5.2
Percent change
2009-2018
  9.0%   24.1%   44.1%   29.9%   52.3%

(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.

NA=Data not available.

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 homeowners and renters insurance

The average homeowners insurance premium rose by 1.6 percent in 2017, following a 1.6 percent increase in 2016, according to a November 2019 study by the National Association of Insurance Commissioners, the latest data available. The average renters insurance premium fell 2.7 percent in 2017 after falling 1.6 percent in 2016 and 1.1 percent in 2015.

 
Average Premiums For Homeowners And Renters Insurance, 2008-2017

 

Year Homeowners (1) Percent change Renters (2) Percent change
2008 $830 1.0% $182 (3)
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

(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 and liability of tenants.
(3) Less than 0.1 percent.

Source: © 2019 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 in the first two quarters of 2019 but grew to 64.8 percent by the third quarter, back to the same level it was at the end of 2018, 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, 2017 (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  $1,433 12 $235 3 Montana $1,174 24 $146 45
Alaska  959 37 166 28 Nebraska 1,481 10 143 47
Arizona  825 46 178 20 Nevada 755 48 178 20
Arkansas  1,373 13 212 7 New Hampshire 972 35 149 42
California (5) 1,008 32 182 17 New Jersey 1,192 23 165 29
Colorado  1,495 8 159 33 New Mexico 1,017 31 187 15
Connecticut  1,479 11 192 11 New York 1,309 15 194 9
Delaware 833 45 159 33 North Carolina 1,086 28 157 37
D.C. 1,235 20 158 35 North Dakota 1,253 19 120 51
Florida  1,951 2 188 12 Ohio 862 43 175 22
Georgia  1,267 18 219 6 Oklahoma 1,885 4 236 2
Hawaii  1,102 27 185 16 Oregon 677 51 163 30
Idaho  730 49 153 39 Pennsylvania 931 40 158 35
Illinois  1,056 29 167 27 Rhode Island 1,551 6 182 18
Indiana  1,000 33 174 23 South Carolina 1,269 17 188 12
Iowa  964 36 144 46 South Dakota 1,202 21 123 50
Kansas  1,584 5 172 25 Tennessee 1,196 22 199 8
Kentucky  1,109 26 168 26 Texas (6) 1,893 3 232 5
Louisiana  1,968 1 235 3 Utah 692 50 151 41
Maine  882 42 149 42 Vermont 918 41 155 38
Maryland  1,037 30 161 32 Virginia  999 34 152 40
Massachusetts  1,488 9 194 9 Washington 854 44 163 30
Michigan  942 38 182 18 West Virginia 940 39 188 12
Minnesota  1,348 14 140 48 Wisconsin 779 47 134 49
Mississippi  1,537 7 258 1 Wyoming 1,156 25 147 44
Missouri  1,285 16 173 24 United States $1,211   $180  

(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 and liability of tenants.
(5) Data provided by the California Department of Insurance.
(6) 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.

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: © 2019 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, 2016 (1)

 

Rank (2) State Average premium Rank (2) State Average premium
1 Louisiana $1,967 27 Kentucky $1,085
2 Texas (3) 1,937 28 Illinois 1,042
3 Florida 1,918 29 Hawaii 1,026
4 Oklahoma 1,875 30 Maryland 1,022
5 Kansas 1,548 31 Indiana 1,003
6 Mississippi 1,525 32 California (4) 1,000
7 Rhode Island 1,496 32 New Mexico 996
8 Connecticut 1,455 32 Alaska 974
9 Massachusetts 1,451 35 Virginia  966
10 Colorado  1,446 36 New Hampshire 965
11 Nebraska 1,402 37 Michigan 952
12 Alabama 1,386 38 Iowa 945
13 Arkansas 1,348 39 Pennsylvania 927
14 Minnesota 1,340 40 West Virginia 917
15 New York 1,309 41 Vermont 898
16 South Carolina 1,285 42 Maine 866
17 Missouri 1,280 43 Ohio 850
18 North Dakota 1,239 44 Washington 822
19 District Of Columbia 1,225 45 Delaware 816
20 Georgia 1,200 46 Arizona  803
21 Tennessee 1,185 47 Wisconsin 762
21 New Jersey 1,174 48 Nevada 742
23 Montana 1,130 49 Idaho 703
24 South Dakota 1,125 50 Utah 664
25 Wyoming 1,120 51 Oregon 659
26 North Carolina 1,098   United States $1,192

(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: © 2018 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, 2018

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm Mutual Automobile Insurance $18,170,243 18.4%
2 Allstate Corp. 8,262,445 8.4
3 Liberty Mutual 6,655,452 6.7
4 USAA Insurance Group 6,170,558 6.2
5 Farmers Insurance Group of Companies  5,795,044 5.9
6 Travelers Companies Inc. 3,766,277 3.8
7 American Family Insurance Group 3,399,406 3.4
8 Nationwide Mutual Group 3,184,627 3.2
9 Chubb Ltd. 2,832,082 2.9
10 Erie Insurance Group 1,675,976 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, 2018 (1)

 

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 73.9%
    Incurred losses 65.1
    Defense and cost containment expenses incurred 1.7
    Adjusting and other expenses incurred 7.1
Operating expenses (3)  
Expense ratio 28.7%
    Net commissions and brokerage expenses incurred 12.6
    Taxes, licenses and fees 2.7
    Other acquisition and field supervision expenses incurred 8.2
    General expenses incurred 5.3
Dividends to policyholders (2) 0.5%
Combined ratio after dividends (4) 103.0%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($86.3 billion in 2018).
(3) As a percent of net premiums written ($88.9 billion in 2018).
(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 2017, 25.3 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 90,200 deaths from unintentional home injuries in 2017. The overall death rate has remained almost unchanged over the past 100 years, falling to 27.7 deaths per 100,000 people in 2017 from 28 deaths per 100,000 people in 1912. However, the number and rate of unintentional home injury deaths has increased by 156 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, 2017

 

Deaths 90,200
Medically consulted injuries 25,300,000
Death rate per 100,000 population 27.69
Costs $314.8 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, 2017

 

(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

A myriad of different programs in place across the United States provide insurance to high risk policyholders who may have difficulty obtaining coverage from the standard market. So called residual, shared or involuntary market programs make basic insurance coverage more readily available. Today, property insurance from 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 Citizens Property Insurance Company (CPIC) and Louisiana Citizens Property Insurance Corporation (Louisiana Citizens). 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, while Beach and Windstorm Plans cover predominantly wind-only risks in designated coastal areas. Hybrid plans like Florida and Louisiana’s CPIC, provide property insurance throughout those states. It is important to note that in addition to windstorm risk, these plans routinely cover a range of other exposures, such as vandalism and fire.

 
Renters and homeowners demographics

In 2014, 63.1 percent of housing units were owner occupied and 36.9 percent were renter occupied, according to the latest U.S. Census figures. In 2013, 29 percent of owner-occupied units housed people age 65 and over. The same year, 14 percent of rental units housed people over age 65.

The nation's homeowners with a mortgage paid a median of $1,454 in monthly housing costs in 2014, compared with $934 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, 48 percent compared with 31 percent of homeowners who spent 30 percent or more of their income on housing costs.

 
Percent Of Occupied Housing Units That Are Owner Occupied, 2017

 

State Percent Rank (1) State Percent Rank (1)
Alabama 68.0% 17 Montana 69.2% 12
Alaska 63.5 39 Nebraska 66.3 25
Arizona 64.7 37 Nevada 56.6 48
Arkansas 65.3 33 New Hampshire 69.8 9
California 54.8 49 New Jersey 63.8 38
Colorado 65.2 34 New Mexico 67.9 18
Connecticut 66.2 26 New York 53.8 50
Delaware 70.9 6 North Carolina 65.4 31
D.C. 42.2 51 North Dakota 63.4 40
Florida 65.2 34 Ohio 65.8 29
Georgia 62.9 41 Oklahoma 65.5 30
Hawaii 58.5 47 Oregon 62.8 42
Idaho 69.7 10 Pennsylvania 68.3 16
Illinois 66.2 26 Rhode Island 60.8 46
Indiana 69.0 13 South Carolina 68.7 14
Iowa 71.6 3 South Dakota 67.7 19
Kansas 65.9 28 Tennessee 65.4 31
Kentucky 66.5 24 Texas 62.0 45
Louisiana 65.2 34 Utah 69.9 8
Maine 73.2 1 Vermont 69.5 11
Maryland 66.7 21 Virginia 66.6 22
Massachusetts 62.3 44 Washington 62.8 42
Michigan 71.3 5 West Virginia 72.5 2
Minnesota 71.6 3 Wisconsin 66.6 22
Mississippi 68.5 15 Wyoming 70.8 7
Missouri 67.0 20 United States 63.9%  

(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 2016 West Virginia, Minnesota and Maine 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 and Nevada.

 
Percent Of Mortgaged Owners Occupied Units Spending 30 Percent Or More Of Their Income On Rent And Utilities, 2016

 

State Percent (1) Rank (2) State Percent (1) Rank (2)
Alabama 25.0% 32 Montana 29.7% 13
Alaska 28.1 18 Nebraska 19.5 49
Arizona 28.3 16 Nevada 31.2 8
Arkansas 20.9 45 New Hampshire 27.7 20
California 38.6 1 New Jersey 36.4 3
Colorado 27.0 22 New Mexico 30.1 10
Connecticut 30.7 9 New York 33.8 5
Delaware 27.1 21 North Carolina 25.7 29
D.C. 25.8 28 North Dakota 17.9 51
Florida 34.0 4 Ohio 21.9 43
Georgia 25.7 29 Oklahoma 22.6 39
Hawaii 37.9 2 Oregon 30.1 10
Idaho 24.8 34 Pennsylvania 25.4 31
Illinois 28.2 17 Rhode Island 31.6 7
Indiana 19.4 50 South Carolina 26.6 23
Iowa 19.8 48 South Dakota 21.2 44
Kansas 20.9 45 Tennessee 24.9 33
Kentucky 22.3 41 Texas 26.4 26
Louisiana 26.5 25 Utah 23.0 38
Maine 28.1 18 Vermont 32.5 6
Maryland 28.8 15 Virginia 26.6 23
Massachusetts 29.8 12 Washington 29.2 14
Michigan 23.3 37 West Virginia 20.7 47
Minnesota 22.3 41 Wisconsin 23.9 36
Mississippi 26.4 26 Wyoming 24.4 35
Missouri 22.4 40 United States 28.1%  

(1) Percent of mortgaged owners 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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  • In 2016, California, Hawaii,  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, Nebraska and  Iowa  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, 2017

 

State Percent (1) Rank (2) State Percent (1) Rank (2)
Alabama 40.8% 39 Montana 40.2% 42
Alaska 42.0 30 Nebraska 36.8 50
Arizona 44.8 17 Nevada 45.5 13
Arkansas 39.5 45 New Hampshire 44.5 20
California 52.5 1 New Jersey 49.0 6
Colorado 49.2 5 New Mexico 43.3 26
Connecticut 48.3 8 New York 49.7 4
Delaware 43.6 25 North Carolina 42.4 29
D.C. 44.9 16 North Dakota 36.6 51
Florida 52.4 2 Ohio 41.1 34
Georgia 44.4 22 Oklahoma 40.5 40
Hawaii 51.7 3 Oregon 48.6 7
Idaho 41.7 31 Pennsylvania 42.5 28
Illinois 45.2 14 Rhode Island 43.0 27
Indiana 41.7 31 South Carolina 44.8 17
Iowa 38.8 46 South Dakota 37.8 49
Kansas 41.0 35 Tennessee 40.9 38
Kentucky 38.4 47 Texas 44.5 20
Louisiana 47.5 9 Utah 41.7 31
Maine 40.4 41 Vermont 46.9 11
Maryland 47.5 9 Virginia 43.7 23
Massachusetts 46.5 12 Washington 45.2 14
Michigan 44.6 19 West Virginia 39.6 44
Minnesota 43.7 23 Wisconsin 41.0 35
Mississippi 40.2 42 Wyoming 38.0 48
Missouri 41.0 35 United States 46.0%  

(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, 46.1 percent of renters spent at least 30 percent of their household income on rent and utilities in 2016.
  • In 2016 North Dakota, South Dakota, Wyoming and Alaska had the lowest percentage of rental units in which occupants spent 30 percent or more of their income on rent. California, Florida, Hawaii and New York had the highest percentage.

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