Facts + Statistics: Homeowners and renters insurance | III

Homeowners insurance expenditures

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

Home inventories

On average, over nine survey years ending in 2020, 49 percentage 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 percentage 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 probably to have a home inventory ( 48 percentage and 41 percentage ), followed by homeowners in the Northeast and Midwest ( both regions at 39 percentage ) .

Causes of homeowners insurance losses

In 2020, 6 percentage of cover homes had a claim, according to ISO. Property damage, including larceny, accounted for 97.7 percentage of homeowners indemnity claims in 2020 ( latest data available ). Changes in the percentage of each character of homeowners passing from one year to another are partially influenced by big fluctuations in the count and badness of weather-related events such as hurricanes and winter storms. There are two ways of looking at losses : by the median number of claims filed per 100 policies ( frequency ) and by the average amount paid for each claim ( asperity ). The loss class “ water damage and freezing ” includes wrong caused by mold, if covered. Every country except Alaska, Arkansas, New York, North Carolina and Virginia has adopted an ISO mold limit for homeowners insurance coverage, which allows insurers to exclude the coverage unless the stipulate results from a report hazard .

Homeowners Insurance Losses, 2016-2020 (1)

  Total homeowners losses   Total homeowners losses
Year Claim frequency (2) Claim severity (3) Year Claim frequency (2) Claim severity (3)
2016 5.03 $11,977  2019 5.29 13,868 
2017 6.38 15,131  2020 6.01 13,955 
2018 6.23 14,424 Average (4) 5.79 13,962 

( 1 ) For homeowners multiple endanger policies ( HO-2, HO-3, HO-5 and HE-7 for North Carolina ). eject tenants and condominium policies. Excludes Alaska, Texas and Puerto Rico.
( 2 ) Claims per 100 house-years ( policies ). One house-year represents policy coverage on a dwelling for 12 months.
( 3 ) average total paid per claim ; based on accident year incurred losses, excluding loss alteration expenses, i.e., indemnity costs per accident class incurred claims.
( 4 ) Weighted average, 2016-2020 .
reservoir : ISO®, a Verisk Analytics® clientele .
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  • In 2020, 6 percent of insured homes experienced a claim, compared with 5.3 percent in 2019.

Homeowners Insurance Losses By Cause, 2016-2020 (1)

( percentage of losses incurred )

Cause of loss 2016 2017 2018 2019 2020
Property damage (2) 96.3% 97.5% 97.5% 97.0% 97.7%
     Wind and hail 34.1 47.0 40.0 38.1 45.5
     Water damage and freezing 28.7 18.3 23.9 28.4 19.9
     Fire and lightning  26.0 26.6 26.2 22.4 23.8
     Theft 1.8 1.0 0.9 0.9 0.6
     All other property damage (3) 5.7 4.7 6.5 7.1 7.9
Liability (4) 3.7% 2.5% 2.5% 3.0% 2.3%
     Bodily injury and property damage 3.5 2.3 2.3 2.7 2.0
     Medical payments and other 0.2 0.2 0.2 0.3 0.3
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 riskiness policies ( HO-2, HO-3, HO-5 and HE-7 for North Carolina ). exclude tenants and condominium owners policies. Excludes Alaska, Texas and Puerto Rico.
( 2 ) First party, i.e., covers price to policyholder ‘s own place.
( 3 ) Includes vandalism and malicious maleficence.
( 4 ) Payments to others for which policyholder is responsible.
( 5 ) Includes coverage for unauthorized function of diverse cards, forgery, counterfeit money and losses not otherwise classified.
( 6 ) Less than 0.1 percentage .
source : ISO®, a Verisk Analytics® business .
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Average Homeowners Losses, 2016-2020 (1)

( slant average, 2016-2020 )

Cause of loss Claim frequency (2) Claim severity (3)
Property damage (4) 5.70 $13,804
     Fire and lightning 0.26 77,340
     Water damage and freezing 1.61 11,650
     Wind and hail 2.88 11,695
     Theft 0.19 4,415
     All other (5) 0.76 6,773
Liability (6) 0.09 23,611
     Bodily injury and property damage 0.07 30,324
     Medical payments and other 0.03 7,147
Credit card and other (7) (8) $820 (9)
Average (property damage
and liability), 2016-2020
5.79 $13,962

( 1 ) For homeowners multiple riskiness policies ( HO-2, HO-3, HO-5 and HE-7 for North Carolina ). bar tenants and condominium owners policies. Excludes Alaska, Texas and Puerto Rico.
( 2 ) Claims per 100 sign of the zodiac years ( policies ).
( 3 ) accident year incurred losses, excluding loss alteration expenses, i.e., damages costs per accident class 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 creditworthy.
( 7 ) Includes coverage for unauthorized use of respective cards, forgery, counterfeit money and losses not otherwise classified.
( 8 ) Less than 0.01.
( 9 ) Claim severity for accredit card and other is significantly lower than was shown in previous years due to a transfer in the companies surveyed to produce the datum. The new survival of companies use different exclusions which have been applied throughout the five years used in this chart .
source : ISO®, a Verisk Analytics® business .
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  • In the five-year period, 2016-2020, 5.8 percent of insured homes had a claim. Wind and hail accounted for the largest share of claims, with 2.9 percent of insured homes having such a loss, followed by water damage and freezing with 1.6 percent of homes having a loss.

Homeowners Insurance Claims Frequency*

  • About one in 20 insured homes has a claim each year.
  • About one in 35 insured homes has a property damage claim related to wind or hail each year.
  • About one in 60 insured homes has a property damage claim caused by water damage or freezing each year.
  • About one in 385 insured homes has a property damage claim related to fire and lightning.
  • About one in 525 insured homes has a property damage claim due to theft each year.
  • About one in 1,425 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 policy claims from 2016-2020 ( see postpone above ) .

Sinkhole claims

In March 2013 an entire house fell into a huge sinkhole in a suburb of Tampa, Florida, garnering national attention. Although such boastfully, sudden and destructive sinkholes are relatively rare, thousands of small sinkholes appear in the U.S. each class. The most damage from sinkholes occurs in Florida, Texas, Alabama, Missouri, Kentucky, Tennessee and Pennsylvania, according to the U.S. Geological Survey. Most homeowners indemnity 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 flop is compulsory ; comprehensive examination sinkhole coverage is optional. ( note : For information on the Florida police see hypertext transfer protocol : //www.insuringflorida.org/articles/sinkholes.html. For statistics on Florida sinkholes see hypertext transfer protocol : //www.floir.com/sections/pandc/sinkholepage.aspx ) .

Consumer prices

The Bureau of Labor Statistics consumer price exponent ( CPI ) tracks changes in the prices paid by consumers for a representative basket of goods and services. The price of populate ( all items ) rose 4.7 percentage in 2021. The cost of motive vehicle insurance increased 3.8 percentage after a 4.6 percentage refuse in 2020, when drivers reduced their tug due to the COVID-19 pandemic. The cost of tenants and family policy declined slightly, down 0.3 percentage. Used cars and trucks increased a meaning 26.6 percentage and the median price of a single kin dwelling increased 17.7 percentage and about 100 percentage since 2012 .

Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 2012-2021 (Cont’d)

( al-qaeda : 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
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 5.6
2018 138.4 0.1 150.7 1.3 253.7 6.0 361.2 4.3 262 5.1
2019 139.8 1.0 151.8 0.7 268.7 5.9 364.8 1.0 275 5.0
2020 144.2 3.2 151.1 -0.5 270.0 0.5 368.7 1.1 300 9.3
2021 182.6 26.6 150.7 -0.3 NA NA 374.4 1.5 353 17.7
Percent change,
2012-2021
  21.5%   14.8%   NA   23.4%   99.4%

( 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 : percentage 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 modal homeowners insurance premium rose by 3.1 percentage in 2018, following a 1.6 percentage increase in 2017, according to a January 2021 study by the National Association of Insurance Commissioners, the latest data available. The average renters insurance agio fell 0.6 percentage in 2018 marking the fourth back-to-back annual refuse. Renters indemnity premiums fell 2.7 percentage in 2017 .
The U.S. homeownership rate was 65.5 percentage in the fourth quarter of 2021, 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 percentage of households were occupied by renters, followed by Los Angeles ( 61.8 percentage ), Chicago ( 55.1 percentage ) and Houston ( 54.6 percentage ) .

Average Premiums For Homeowners And Renters Insurance, 2010-2019

Year Homeowners (1) Percent change Renters (2) Percent change
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
2019 1,272 1.8 174 -2.8

( 1 ) Based on the HO-3 homeowner software 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 percentage .
reference : © 2022 National Association of Insurance Commissioners ( NAIC ). Reprinted with permission. promote offprint or distribution rigorously prohibited without written permission of NAIC .
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Average Premiums For Homeowners And Renters Insurance By State, 2019 (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  $1,463 12 $219  5 Montana $1,287 19 $149  40
Alaska  962 38 182  14 Nebraska 1,564 9 144  46
Arizona  850 46 164  24 Nevada 791 48 179  19
Arkansas  1,456 13 208  7 New Hampshire 1,021 34 146  45
California (5) 1,177 28 175  20 New Jersey 1,237 23 156  35
Colorado  1,618 7 159  28 New Mexico 1,126 30 186  10
Connecticut  1,531 10 183  13 New York 1,357 16 185  11
Delaware 908 43 153  36 North Carolina 1,193 26 159  29
D.C. 1,275 20 158  30 North Dakota 1,236 24 115  51
Florida  1,988 3 180  18 Ohio 853 45 163  26
Georgia  1,362 15 209  6 Oklahoma 2,000 2 235  3
Hawaii  1,182 27 174  21 Oregon 727 51 158  31
Idaho  799 47 148  43 Pennsylvania 955 39 153  37
Illinois  1,054 33 157  32 Rhode Island 1,731 5 182  16
Indiana  983 36 164  25 South Carolina 1,303 17 182  17
Iowa  913 42 132  48 South Dakota 1,218 25 117  50
Kansas  1,519 11 167  23 Tennessee 1,259 21 189  8
Kentucky  1,172 29 162  27 Texas (6) 1,982 4 220  4
Louisiana  2,037 1 236  2 Utah 743 50 149  41
Maine  936 41 149  39 Vermont 947 40 151  38
Maryland  1,125 31 157  33 Virginia  1,080 32 149  42
Massachusetts  1,617 8 186  9 Washington 908 44 157  34
Michigan  999 35 182  15 West Virginia 968 37 185  12
Minnesota  1,433 14 135  47 Wisconsin 750 49 127  49
Mississippi  1,622 6 252  1 Wyoming 1,244 22 147  44
Missouri  1,299 18 173  22 United States $1,272    $174  

( 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 syndicate units. Provides all risks coverage ( except those specifically excluded in the policy ) on buildings and wide named-peril coverage on personal property, and is the most coarse software written.
( 3 ) Ranked from highest to lowest. States with the lapp premium receive the same rank.
( 4 ) Based on the HO-4 renters policy 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 .
notice : average premium=Premiums/exposure per theater years. A house year is equal to 365 days of insured coverage for a individual dwell. The NAIC does not rank state modal expenditures and does not endorse any conclusions drawn from this data .
source : ©2022 National Association of Insurance Commissioners ( NAIC ). Reprinted with permission. promote offprint or distribution rigorously 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 southeast states have wind pools in operation and their data may not be included in this chart. Based on the HO-3 homeowner box 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 box written.
( 2 ) States with the same premium receive the same rank.
( 3 ) The Texas Department of Insurance developed home indemnity 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 indemnity 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 see coverage for a individual harp. 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 license. far reprint or distribution rigorously prohibited without written permission of NAIC .
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Top 10 Most Expensive And Least Expensive States For Homeowners Insurance Premiums, 2019 (1)

Rank Most expensive states Average expenditure Rank Least expensive states Average expenditure
1 Louisiana $2,037 Oregon $727
2 Oklahoma 2,000 Utah 743
3 Florida 1,988 Wisconsin 750
4 Texas (2) 1,982 Nevada 791
4 Rhode Island 1,731 Idaho 799
5 Mississippi 1,622 Arizona  850
6 Colorado  1,618 Ohio 853
7 Massachusetts 1,617 Delaware 908
8 Nebraska 1,564 Washington 908
9 Connecticut 1,531 10  Iowa 913

( 1 ) Based on the HO-3 homeowner package policy for owner-occupied dwellings, 1 to 4 syndicate units. Provides all risks coverage ( except those specifically excluded in the policy ) on buildings and broad named-peril coverage on personal place, and is the most coarse box written.
( 2 ) Texas data were obtained from the Texas Department of Insurance .
informant : © 2022 National Association of Insurance Commissioners ( NAIC ). further reissue or distribution strictly prohibited without written permission of NAIC .
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Top 10 Writers Of Homeowners Insurance By Direct Premiums Written, 2021

( $ 000 )

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm Mutual Automobile Insurance $22,046,155 18.4%
2 Allstate Corp. 10,500,630 8.8
3 Liberty Mutual 8,382,682 7.0
4 USAA Insurance Group 7,988,445 6.7
5 Farmers Insurance Group of Companies 7,608,035 6.4
6 Travelers Companies Inc. 5,557,121 4.6
7 American Family Insurance Group 5,003,013 4.2
8 Nationwide Mutual Group 3,522,394 2.9
9 Chubb Ltd. 3,210,874 2.7
10 Progressive Corp. 2,217,188 1.9

( 1 ) Before reinsurance transactions, includes state funds.
( 2 ) Based on U.S. total, includes territories .
reference : NAIC data, sourced from S & P Global Market Intelligence, Insurance Information Institute .
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Homeowners Insurance Industry Underwriting Expenses, 2020 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 77.0%
    Incurred losses 67.5
    Defense and cost containment expenses incurred 1.8
    Adjusting and other expenses incurred 7.7
Operating expenses (3)  
Expense ratio 28.3%
    Net commissions and brokerage expenses incurred 12.3
    Taxes, licenses and fees 2.5
    Other acquisition and field supervision expenses incurred 7.9
    General expenses incurred 5.6
Dividends to policyholders (2) 0.5%
Combined ratio after dividends (4) 105.9%

( 1 ) After reinsurance transactions.
( 2 ) As a percentage of net premiums earned ( $ 94.6 billion in 2020 ).
( 3 ) As a percentage of internet premiums written ( $ 97.0 billion in 2020 ).
( 4 ) Sum of personnel casualty and LAE, expense and dividends ratios. Calculated from unrounded numbers .
source : NAIC data, sourced from S & P Global Market Intelligence, Insurance Information Institute .
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Home injuries

In 2020, 31.8 million Americans experienced an unintentional injury in the home that required help from a aesculapian master, according to an analysis by the National Safety Council ( NSC ). There were 113,500 deaths from unintentional home plate injuries in 2020, up 21.1 percentage from 2019. The overall death rate rose to 34.4 deaths per 100,000 people in 2020. Since 1912, the death pace had been about unchanged at 28.5 deaths per 100,000 people. The count of unintentional home injury deaths has increased by 272 percentage since 1999, largely due to increases in unintentional poisonings and falls .

Unintentional Home Deaths And Injuries, 2020

Deaths 113,500
Medically consulted injuries 31,800,000
Death rate per 100,000 population 34.4

source : National Safety Council estimates based on data from National Center for Health Statistics and state full of life statistics departments .
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High-risk markets

A ten thousand of different programs in stead across the United States provide indemnity to owners of property in bad areas who may have trouble obtaining coverage from the standard market. Residual, shared or involuntary market programs make basic indemnity coverage more promptly available. today, place policy 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 ’ mho Citizens Property Insurance Corp. and Louisiana ’ mho Citizens Property Insurance Corp. Established in the belated 1960s to ensure the continue provision of insurance in urban areas, FAIR plans much provide property insurance in both urban and coastal areas. Beach and windstorm plans cover predominantly wind-only risks in intend coastal areas. Over the past four decades FAIR and beach and windstorm plans experienced explosive growth both in the total of policies and in exposure value. however, the number of policies in FAIR plans peaked in 2011 and had been falling steadily through 2018, down 49.7 percentage from 2011 to 2018, while exposure dropped by 54.6 percentage. In 2019 the downward swerve ended and from 2018 to 2020, total policies grew 10.1 percentage while exposure grew 30.8 percentage .

Renters and homeowners demographics

In 2020, 66.6 percentage of housing units were owner occupied and 33.4 percentage were renter occupied, according to the latest U.S. Census figures. In 2019, 32.1 percentage of owner-occupied units housed people senesce 65 and over. The same year, 16.2 percentage of rental units housed people over senesce 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 normally paid a higher percentage of their family income on these costs than did owners, 45.1 percentage compared with 26.5 percentage of homeowners who spent 30 percentage or more of their income on house costs in 2019 .

Percent Of Occupied Housing Units That Are Owner Occupied, 2020

State Percent Rank (1) State Percent Rank (1)
Alabama 74.8% 4 Montana 68.4% 33
Alaska 64.1 44 Nebraska 69.8 25
Arizona 68.7 30 Nevada 61.2 47
Arkansas 68.8 29 New Hampshire 74.5 5
California 55.9 49 New Jersey 64.3 42
Colorado 64.9 40 New Mexico 70.3 22
Connecticut 66.9 37 New York 53.6 50
Delaware 77.9 2 North Carolina 68.7 30
D.C. 42.5 51 North Dakota 64.2 43
Florida 68.7 30 Ohio 69.4 27
Georgia 67.3 35 Oklahoma 71.0 20
Hawaii 58.8 48 Oregon 65.2 39
Idaho 71.5 17 Pennsylvania 69.9 24
Illinois 67.3 35 Rhode Island 64.5 41
Indiana 72.7 12 South Carolina 73.6 10
Iowa 72.1 14 South Dakota 71.4 18
Kansas 69.5 26 Tennessee 70.0 23
Kentucky 72.5 13 Texas 66.5 38
Louisiana 69.1 28 Utah 71.7 16
Maine 77.1 3 Vermont 73.1 11
Maryland 72.0 15 Virginia 70.4 21
Massachusetts 62.7 46 Washington 64.1 44
Michigan 74.3 7 West Virginia 78.2 1
Minnesota 74.5 5 Wisconsin 67.9 34
Mississippi 74.2 8 Wyoming 73.9 9
Missouri 71.1 19 United States 66.6%  

( 1 ) States with the same percentages receive the same rank .
informant : U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, March 9, 2021 .
View Archived Tables

  • In 2020 West Virginia, Delaware, Maine, Alabama and Minnesota 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, Hawaii and Nevada.

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 ) percentage of mortgaged owner-occupied caparison units spending 30 percentage or more of family income on selected owner costs such as all mortgage payments ( foremost mortgage, home equity loans, etc. ), real estate taxes, property indemnity, utilities, fuel and condominium fees if applicable.
( 2 ) States with the same percentages receive the lapp rate .
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 ) percentage of renter-occupied units spending 30 percentage or more on rend and utilities such as electric, gas, water system and sewer, and fuel ( oil, ember, etc. ) if paid by the renter.
( 2 ) States with the lapp percentages receive the same membership .
beginning : 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.
source : https://www.peterswar.net
Category : Finance

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Why Did My Credit Score Drop?

Why Did My Credit Score Go Down When Nothing Changed? sometimes your mark does change based on factors outside of your control, but most times your behavior…

Why Do I Owe Taxes To The IRS & How To Avoid Them

Are you wondering why you owe indeed much in taxes this year ? Want to make certain you never owe a big tax bill – or any…

The 5 reasons why your credit score might suddenly drop

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