"Homeowners in Colorado, Nebraska, Texas, and Florida faced the highest insurance costs in 2024, with median annual premiums ranging from $2,000 to $2,499. Premiums were generally higher for mortgage holders compared to homeowners without mortgages, with median costs often falling between $1,000 and $1,499 for the latter group. Rising insurance premiums are influencing where people can afford to buy homes, impacting long-term homeownership planning, and challenging homeowners to keep their properties adequately protected."
"The homeowners insurance landscape is evolving, with costs creating a significant financial burden for many homeowners across various states. The American Community Survey data highlights the disparities in insurance costs, especially in states like Colorado, Nebraska, Texas, and Florida. States like Colorado, Nebraska, Texas, and Florida, exposed to extreme weather and natural disasters, experienced the highest median insurance premiums, exceeding $2,000 annually."
Homeowners insurance costs vary widely across states, creating significant financial burdens for many homeowners. American Community Survey data show that Colorado, Nebraska, Texas, and Florida had the highest median annual premiums in 2024, ranging from $2,000 to $2,499. Mortgage holders generally paid higher premiums than homeowners without mortgages, with non-mortgage homeowners often seeing medians between $1,000 and $1,499. Rising premiums are affecting housing affordability and long-term homeownership planning, and are challenging homeowners to maintain adequate protection. Exposure to extreme weather and natural disasters drives higher premiums in the most expensive states.
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