- According to the National Association of Insurance Commissioners:
- The average premiums for renters insurance in 2021 was $170.
- Renters in Mississippi, Louisiana and Alabama had the highest renters insurance premiums.
- Renters in North Dakota, South Dakota and Wisconsin had the lowest premiums.
- According to data from the US Department of Commerce, the US Census Bureau, and American Community Survey:
- The percent of renter occupied units spending more than 30 percent on rent and utilities in 2022 was 48.2 percent. Florida, Nevada, and California had the largest percentage of rental units in which occupants spent at least 30 percent of their household income on rent and utilities.
Homeowners & Renters
Facts + Statistics: Renters insurance
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Average Premiums For Homeowners And Renters Insurance, 2012-2021 (1)
| Year | Homeowners (2) | Percent change | Renters (3) | Percent change |
|---|---|---|---|---|
| 2012 | 1,034 | 5.6% | 187 | (4) |
| 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 |
| 2019 | 1,272 | 1.8 | 174 | -2.8 |
| 2020 | 1,311 | 3.1 | 173 | -0.6 |
| 2021 | 1,411 | 7.6 | 170 | -1.7 |
(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) Based on the HO-4 renters insurance policy for tenants. Includes broad named-peril coverage for the personal property of tenants.
(4) Less than 0.1 percent.
Source: National Association of Insurance Commissioners (NAIC). Further reprint or distribution strictly prohibited without written permission of NAIC.
Average Premiums For Homeowners And Renters Insurance By State, 2021 (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 | 1,610 | 12 | 222 | 3 | Montana | 1,471 | 15 | 154 | 31 |
| Alaska | 1,067 | 35 | 184 | 8 | Nebraska | 1,684 | 9 | 141 | 46 |
| Arizona | 917 | 46 | 160 | 25 | Nevada | 863 | 48 | 175 | 14 |
| Arkansas | 1,611 | 11 | 206 | 5 | New Hampshire | 1,090 | 34 | 145 | 42 |
| California (5) | 1,403 | 20 | 177 | 13 | New Jersey | 1,309 | 23 | 151 | 34 |
| Colorado | 1,802 | 6 | 159 | 27 | New Mexico | 1,229 | 30 | 175 | 14 |
| Connecticut | 1,651 | 10 | 171 | 18 | New York | 1,455 | 17 | 164 | 22 |
| Delaware | 988 | 44 | 144 | 44 | North Carolina | 1,192 | 33 | 164 | 22 |
| D.C. | 1,272 | 25 | 150 | 36 | North Dakota | 1,256 | 27 | 114 | 51 |
| Florida | 2,437 | 1 | 175 | 14 | Ohio | 920 | 45 | 160 | 25 |
| Georgia | 1,466 | 16 | 205 | 6 | Oklahoma | 2,155 | 3 | 221 | 4 |
| Hawaii | 1,299 | 24 | 172 | 17 | Oregon | 793 | 50 | 150 | 36 |
| Idaho | 884 | 47 | 146 | 40 | Pennsylvania | 1,014 | 40 | 147 | 39 |
| Illinois | 1,223 | 31 | 154 | 31 | Rhode Island | 1,900 | 5 | 178 | 12 |
| Indiana | 1,058 | 36 | 162 | 24 | South Carolina | 1,432 | 18 | 184 | 8 |
| Iowa | 1,043 | 37 | 135 | 47 | South Dakota | 1,270 | 26 | 117 | 50 |
| Kansas | 1,491 | 14 | 159 | 27 | Tennessee | 1,368 | 21 | 183 | 10 |
| Kentucky | 1,232 | 29 | 156 | 30 | Texas (6) | 2,146 | 4 | 204 | 7 |
| Louisiana | 2,259 | 2 | 243 | 2 | Utah | 831 | 49 | 145 | 42 |
| Maine | 996 | 42 | 146 | 40 | Vermont | 1,025 | 38 | 150 | 36 |
| Maryland | 1,238 | 28 | 152 | 33 | Virginia | 1,199 | 32 | 151 | 34 |
| Massachusetts | 1,712 | 8 | 168 | 21 | Washington | 1,001 | 41 | 159 | 27 |
| Michigan | 993 | 43 | 179 | 11 | West Virginia | 1,016 | 39 | 170 | 20 |
| Minnesota | 1,607 | 13 | 132 | 48 | Wisconsin | 780 | 51 | 127 | 49 |
| Mississippi | 1,766 | 7 | 258 | 1 | Wyoming | 1,432 | 18 | 142 | 45 |
| Missouri | 1,340 | 22 | 171 | 18 | United States | $1,411 | $170 | ||
(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 premiums and does not endorse any conclusions drawn from this data.
Source: National Association of Insurance Commissioners (NAIC). Further reprint or distribution strictly prohibited without written permission of NAIC.
Top 10 Most Expensive And Least Expensive States For Homeowners Insurance Premiums, 2021 (1)
| Rank (2) | Most expensive states | Average premium (3) | Rank (2) | Least expensive states | Average premium (3) |
|---|---|---|---|---|---|
| 1 | Florida | $2,437 | 1 | Wisconsin | $780 |
| 2 | Louisiana | 2,259 | 2 | Oregon | 793 |
| 3 | Oklahoma | 2,155 | 3 | Utah | 831 |
| 4 | Texas (4) | 2,146 | 4 | Nevada | 863 |
| 5 | Rhode Island | 1,900 | 5 | Idaho | 884 |
| 6 | Colorado | 1,802 | 6 | Arizona | 917 |
| 7 | Mississippi | 1,766 | 7 | Ohio | 920 |
| 8 | Massachusetts | 1,712 | 8 | Delaware | 988 |
| 9 | Nebraska | 1,684 | 9 | Michigan | 993 |
| 10 | Connecticut | 1,651 | 10 | Maine | 996 |
(1) Includes state funds, residual markets and some wind pools.
(2) Ranked from highest to lowest. States with the same premium receive the same rank.
(3) 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.
(4) 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 premiums and does not endorse any conclusions drawn from this data.
Source: National Association of Insurance Commissioners (NAIC). Further reprint or distribution strictly prohibited without written permission of NAIC.
Percent Of Occupied Housing Units That Are Owner Occupied, 2022
| State | Percent | Rank (1) | State | Percent | Rank (1) |
|---|---|---|---|---|---|
| Alabama | 70.2% | 15 | Montana | 68.8% | 19 |
| Alaska | 66.1 | 36 | Nebraska | 66.0 | 37 |
| Arizona | 67.4 | 26 | Nevada | 60.3 | 48 |
| Arkansas | 66.5 | 33 | New Hampshire | 72.3 | 7 |
| California | 55.8 | 49 | New Jersey | 64.6 | 41 |
| Colorado | 66.4 | 34 | New Mexico | 70.9 | 13 |
| Connecticut | 66.3 | 35 | New York | 54.1 | 50 |
| Delaware | 74.1 | 2 | North Carolina | 66.7 | 32 |
| D.C. | 41.0 | 51 | North Dakota | 65.1 | 40 |
| Florida | 67.2 | 29 | Ohio | 67.3 | 28 |
| Georgia | 65.9 | 38 | Oklahoma | 65.4 | 39 |
| Hawaii | 62.6 | 45 | Oregon | 62.8 | 44 |
| Idaho | 72.3 | 7 | Pennsylvania | 69.1 | 18 |
| Illinois | 67.1 | 31 | Rhode Island | 63.3 | 43 |
| Indiana | 70.8 | 14 | South Carolina | 72.0 | 10 |
| Iowa | 72.0 | 10 | South Dakota | 69.6 | 17 |
| Kansas | 67.7 | 22 | Tennessee | 67.2 | 29 |
| Kentucky | 68.8 | 19 | Texas | 62.5 | 46 |
| Louisiana | 67.6 | 24 | Utah | 71.2 | 12 |
| Maine | 74.1 | 2 | Vermont | 73.7 | 4 |
| Maryland | 67.7 | 22 | Virginia | 67.4 | 26 |
| Massachusetts | 62.2 | 47 | Washington | 64.2 | 42 |
| Michigan | 73.2 | 5 | West Virginia | 74.5 | 1 |
| Minnesota | 72.1 | 9 | Wisconsin | 68.1 | 21 |
| Mississippi | 69.9 | 16 | Wyoming | 72.7 | 6 |
| Missouri | 67.6 | 24 | United States | 65.2% |
(1) States with the same percentages receive the same rank.
Source: U.S. Department of Commerce, Census Bureau; American Community Survey.
Percent Of Renter Occupied Units Spending 30 Percent Or More Of Their Income On Rent And Utilities, 2022
| State | Percent (1) | Rank (2) | State | Percent (1) | Rank (2) |
|---|---|---|---|---|---|
| Alabama | 42.7% | 40 | Montana | 40.3% | 47 |
| Alaska | 39.3 | 48 | Nebraska | 43.3 | 35 |
| Arizona | 49.4 | 11 | Nevada | 54.3 | 2 |
| Arkansas | 40.4 | 46 | New Hampshire | 46.3 | 22 |
| California | 53.1 | 3 | New Jersey | 49.7 | 8 |
| Colorado | 50.9 | 5 | New Mexico | 47.6 | 16 |
| Connecticut | 49.5 | 10 | New York | 49.4 | 11 |
| Delaware | 44.8 | 28 | North Carolina | 44 | 32 |
| D.C. | 45.3 | 25 | North Dakota | 38 | 50 |
| Florida | 56.3 | 1 | Ohio | 43.2 | 36 |
| Georgia | 47.6 | 16 | Oklahoma | 42.9 | 37 |
| Hawaii | 52.9 | 4 | Oregon | 49.9 | 7 |
| Idaho | 43.5 | 33 | Pennsylvania | 44.7 | 30 |
| Illinois | 45.9 | 24 | Rhode Island | 44.8 | 28 |
| Indiana | 44.9 | 27 | South Carolina | 46.5 | 21 |
| Iowa | 41.7 | 45 | South Dakota | 35.8 | 51 |
| Kansas | 43.5 | 33 | Tennessee | 44.1 | 31 |
| Kentucky | 42.5 | 41 | Texas | 49.6 | 9 |
| Louisiana | 48.5 | 15 | Utah | 45 | 26 |
| Maine | 42.8 | 38 | Vermont | 47 | 19 |
| Maryland | 48.8 | 13 | Virginia | 46.3 | 22 |
| Massachusetts | 50.5 | 6 | Washington | 48.6 | 14 |
| Michigan | 46.6 | 20 | West Virginia | 41.8 | 44 |
| Minnesota | 47.2 | 18 | Wisconsin | 42.8 | 38 |
| Mississippi | 42.4 | 42 | Wyoming | 38.6 | 49 |
| Missouri | 42.2 | 43 | United States | 48.2% |
(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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