Facts + Statistics: Renters insurance

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 (3)	Most expensive states	Average premium (2)	Rank (3)	Least expensive states	Average premium (2)
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) 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) 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, 2023

State	Percent (1)	Rank (2)	State	Percent (1)	Rank (2)
Alabama	43.6%	35	Montana	41.8%	41
Alaska	40.5	46	Nebraska	40.9	44
Arizona	50.6	6	Nevada	54.0	2
Arkansas	41.2	43	New Hampshire	49.0	14
California	53.3	3	New Jersey	48.5	15
Colorado	50.7	5	New Mexico	44.0	33
Connecticut	49.8	10	New York	48.5	15
Delaware	47.5	18	North Carolina	44.8	28
D.C.	42.5	38	North Dakota	34.1	51
Florida	57.9	1	Ohio	44.2	32
Georgia	49.4	12	Oklahoma	42.8	37
Hawaii	52.1	4	Oregon	50.6	6
Idaho	45.6	22	Pennsylvania	45.5	23
Illinois	43.6	35	Rhode Island	45.0	26
Indiana	45.4	24	South Carolina	46.5	20
Iowa	40.6	45	South Dakota	38.1	49
Kansas	40.4	47	Tennessee	44.7	29
Kentucky	42.2	39	Texas	49.8	10
Louisiana	49.2	13	Utah	44.9	27
Maine	44.7	29	Vermont	44.7	29
Maryland	50.4	8	Virginia	45.7	21
Massachusetts	50.2	9	Washington	48.1	17
Michigan	47.0	19	West Virginia	38.7	48
Minnesota	45.2	25	Wisconsin	41.4	42
Mississippi	43.9	34	Wyoming	37.4	50
Missouri	42.1	40	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.