Facts + Statistics: Facts + Statistics: Homeowners and Renters

Home , Property insurance

Facts + Statistics: Homeowners and renters insurance

Homeowners

IN THIS FACTS + STATISTICS

Homeowners insurance expenditures

Home inventories

Sinkhole claims

Causes of homeowners insurance losses

Homeowners Insurance Losses, 2015-2019 (1)

Homeowners Insurance Losses By Cause, 2015- 2019 (1)

Average Homeowners Losses, 2015-2019 (1)

Homeowners Losses Ranked By Claims Severity (Average Claim), 2015-2019 (1)

Homeowners Losses Ranked By Claims Frequency, 2015-2019 (1)

Consumer prices

Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 2011-2020 (Cont'd)

Expenditures for homeowners and renters insurance

Average Premiums For Homeowners And Renters Insurance, 2009-2018

Average Premiums For Homeowners And Renters Insurance By State, 2018 (1)

Average Homeowners Insurance Premiums Ranked By State, 2018 (1)

Top 10 Writers Of Homeowners Insurance By Direct Premiums Written, 2020

Homeowners Insurance Industry Underwriting Expenses, 2020 (1)

Home injuries

Unintentional Home Deaths And Injuries, 2019

Principal Types Of Home Unintentional Injury Deaths, 2019

High-risk markets

Renters and homeowners demographics Percent Of Occupied Housing Units That Are Owner Occupied, 2019

Percent Of Mortgaged Owners Occupied Units Spending 30 Percent Or More Of Their Income On Homeownership Costs (1)

Percent Of Renter Occupied Units Spending 30 Percent Or More Of Their Income On Rent And Utilities, 2019

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Homeowners insurance expenditures

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

Home inventories

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

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).

Causes of homeowners insurance losses In 2019, 5.1 percent of insured homes had a claim, according to ISO. Property damage, including theft, accounted for 97.2 percent of homeowners insurance claims in 2019 (latest data available). 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.

In 2019, 5.1 Homeowners Insurance Losses, 2015- percent of 2019 (1) insured homes experienced a claim, compared with 6.2 percent in 2018. Total homeowner losses Total homeowners losses Year Claim Claim Year Claim Claim Homeowners frequency (2) severity (3) frequency (2) severity (3) insurance losses, net of 2015 5.75 $11,440 2018 6.21 $14,826 reinsurance, 2016 5.03 11,973 2019 5.13 13,653 rose to $63.8 2017 6.24 15,501 Average 5.67 $13,582 billion in 2020 from $54.2 (4) billion in 2019, (1) For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes according to 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 S&P Global 12 months. Market (3) Average amount paid per claim; based on accident year incurred losses, excluding loss adjustment Intelligence. expenses, i.e., indemnity costs per accident year incurred claims. (4) Weighted average, 2015-2019.

Source: ISO®, a Verisk Analytics® business.

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Homeowners Insurance Losses By Cause, 2015- 2019 (1)

(Percent of losses incurred)

Cause of loss 2015 2016 2017 2018 2019

Property damage (2) 96.1% 96.2% 97.6% 97.7% 97.2% Wind and hail 22.5 33.4 41.0 36.3 34.3 Water daCmauagse aonfd l ofrsesezing 204125.4 202196.0 201187.7 202138.7 202199.4 Fire and lightning 23.7 26.2 32.2 30.2 25.1 Theft 1.9 1.9 1.1 1.0 1.0 All other property damage (3) 5.6 5.7 4.5 6.5 7.4 Liability (4) 3.9% 3.8% 2.4% 2.3% 2.8% Bodily injury and property damage 3.7 3.5 2.2 2.1 2.4 Medical payments and other 0.2 0.2 0.2 0.2 0.4 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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In the five- Average Homeowners Losses, 2015-2019 year period, (1) 2015-2019, 5.7 percent (Weighted average, 2015-2019) of insured homes had a claim. Wind Cause of loss Claim frequency (2) Claim severity (3) and hail Property damage (4) 5.57 $13,424 accounted for the Fire and lightning 0.27 78,838 largest share Water damage and freezing 1.90 11,098 of claims, with 2.5 Wind and hail 2.45 10,801 percent of Theft 0.23 4,328 insured All other (5) 0.71 6,406 homes having such Liability (6) 0.10 $22,363 a loss, Bodily injury and property damage 0.07 29,752 followed by water Medical payments and other 0.03 5,802 damage and Credit card and other (7) (8) $672 (9) freezing with Average (property damage 5.67 $13,582 1.9 percent of homes and liability), 2015-2019 having a (1) For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes tenants loss. 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. (9) Claim severity for credit card and other is significantly lower than was shown in previous years due to a change in the companies surveyed to produce the data. The new selection 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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Homeowners Insurance Claims Frequency*

About one in 20 insured homes has a claim each year.

About one in 40 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 365 insured homes has a property damage claim related to fire and lightning.

About one in 425 insured homes has a property damage claim due to theft each year.

About one in 1,440 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 2015-2019 (see table above).

Homeowners Losses Ranked By Claims Severity (Average Claim), 2015-2019 (1)

(Weighted average, 2015-2019) (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. This figure is significantly lower than previous five-year results due to a change in the companies surveyed to produce the data.

Source: ISO®, a Verisk Analytics® business.

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Homeowners Losses Ranked By Claims Frequency, 2015-2019 (1)

(Weighted average, 2015-2019)

(1) Claims per 100 house years (policies). One house-year represents policy coverage on a dwelling for 12 months. 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.

View Archived Graphs Consumer prices

The Bureau of Labor Statistics consumer price index (CPI) tracks changes in the prices paid by consumers for a representative basket of goods and services. The cost of living (all items) rose 1.2 percent in 2020. The cost of motor vehicle insurance declined significantly, down 4.6 percent, as insurers nationwide returned over $14 billion to their customers in response to reduced driving during the Covid-19 pandemic. The cost of tenants and household insurance declined slightly, down 0.5. percent. Hospital services rose faster than overall inflation, up 4.2 percent, and total medical care rose 4.1 percent.

Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 2011-2020 (Cont'd)

(Base: 1982-84=100)

Tenants and Repair of Used cars and trucks household insurance (3), (4) household items (3), (5)

Year Index Percent change Index Percent change Index Percent change

2011 149.0 4.1% 127.4 1.4% NA 2012 150.3 0.9 131.3 3.1 198.7 2013 149.9 -0.3 135.4 3.1 206.7 4.0% 2014 149.1 -0.5 141.9 4.8 212.4 2015 147.1 -1.3 146.4 3.2 220.1 2016 143.5 -2.5 147.7 0.9 226.3 2017 138.3 -3.6 148.8 0.7 239.3 2018 138.4 0.1 150.7 1.3 253.7 2019 139.8 1.0 151.8 0.7 268.7 2020 144.2 3.2 151.1 -0.5 270.0 Percent change, -3.2% 18.6% 35.9% (6) 2011-2020

(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. (6) 2012-2020.

Note: Percent changes are calculated from unrounded data.

Source: U.S. Department of Labor, Bureau of Labor Statistics; National Association of Realtors.

View Archived Tables Expenditures for homeowners and renters insurance

The U.S. Average Premiums For Homeowners homeownership And Renters Insurance, 2009-2018 rate fell slightly in the second quarter of 2021 to 65.4 from 65.6 in the first Year Homeowners (1) Percent change Renters (2) Percent change quarter of 2021, 2009 $880 6.0% $184 1.1% according to the U.S. Census 2010 909 3.3 185 0.5 Bureau. It was 2011 979 7.7 187 1.1 the fourth consecutive 2012 1,034 5.6 187 (3) quarterly decline. 2013 1,096 6.0 188 0.5 2014 1,132 3.3 190 1.1 The 2010 Census showed that in 2015 1,173 3.6 188 -1.1 some of the 2016 1,192 1.6 185 -1.6 largest cities renters 2017 1,211 1.6 180 -2.7 outnumbered 2018 1,249 3.1 179 -0.6 owners, including

(1) Based on the HO-3 homeowner package policy for owner-occupied dwellings, 1 to 4 family units. New York, where Provides all risks coverage (except those specifically excluded in the policy) on buildings and broad 69.0 percent of named-peril coverage on personal property, and is the most common package written. households were (2) Based on the HO-4 renters insurance policy for tenants. Includes broad named-peril coverage for the occupied by personal property of tenants. (3) Less than 0.1 percent. renters, followed by Los Angeles Source: © 2020 National Association of Insurance Commissioners (NAIC). Reprinted with permission. (61.8 percent), Further reprint or distribution strictly prohibited without written permission of NAIC. Chicago (55.1 percent) and View Archived Tables Houston (54.6 percent).

Average Premiums For Homeowners And Renters Insurance By State, 2018 (1)

Homeowners Renters Homeowners Average Average Average State premium (2) Rank (3) premium (4) Rank (3) State premium (2) Rank (3)

Alabama $1,409 13 $222 5 Montana $1,237 Alaska 984 36 175 22 Nebraska 1,569 Arizona 843 46 175 22 Nevada 776 Arkansas 1,419 12 211 7 New Hampshire 984 California (5) 1,073 31 178 21 New Jersey 1,209 Colorado 1,616 7 164 29 New Mexico 1,075 Connecticut 1,494 11 188 12 New York 1,321 Delaware 873 45 157 35 North Carolina 1,103 D.C. 1,264 21 157 35 North Dakota 1,293 Florida 1,960 2 185 14 Ohio 874 Georgia 1,313 17 214 6 Oklahoma 1,944 Hawaii 1,140 27 181 19 Oregon 706 Idaho 772 49 152 40 Pennsylvania 943 Illinois 1,103 28 166 27 Rhode Island 1,630 Indiana 1,030 33 172 24 South Carolina 1,284 Iowa 987 35 144 47 South Dakota 1,280 Kansas 1,617 6 172 24 Tennessee 1,232 Kentucky 1,152 26 166 27 Texas (6) 1,955 Louisiana 1,987 1 234 3 Utah 730 Maine 905 42 149 42 Vermont 935 Maryland 1,071 32 161 30 Virginia 1,026 Massachusetts 1,543 10 191 9 Washington 881 Michigan 981 38 185 14 West Virginia 970 Minnesota 1,400 14 140 49 Wisconsin 814 Mississippi 1,578 8 252 1 Wyoming 1,187 Missouri 1,383 15 179 20 United States $1,249

(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 expenditures and does not endorse any conclusions drawn from this data.

View Archived Tables 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 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.

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Top 10 Writers Of Homeowners Insurance By Direct Premiums Written, 2020

($000)

Rank Group/company Direct premiums written (1) Market share (2)

1 State Farm $19,717,032 17.9% 2 Allstate Corp. 9,773,497 8.9 3 USAA Insurance Group 7,362,747 6.7

4 Liberty Mutual 6,991,283 6.3 5 Farmers Insurance Group of Companies 6,043,865 5.5 6 Travelers Companies Inc. 4,866,357 4.4 7 American Family Insurance Group 4,442,467 4.0 8 Nationwide Mutual Group 3,344,181 3.0 9 Chubb Ltd. 3,113,149 2.8 10 Progressive Corp. 1,897,225 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 Underwriting Expenses, 2020 (1)

Expense Percent of premiums Losses and related expEexnpseenss e(2) Percent of premiums 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 7.9 incurred 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 percent of net premiums earned ($94.6 billion in 2020). (3) As a percent of net premiums written ($97.0 billion in 2020). (4) Sum of loss 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 2018, 25 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 89,300 deaths from unintentional home injuries in 2018, down 1.4 percent from 2017. The overall death rate has remained almost unchanged over the past 100 years, at 27.3 deaths per 100,000 people in 2018 from 28 deaths per 100,000 people in 1912. However, the number of unintentional home injury deaths has increased by 150 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, 2019

Deaths 93,700 Medically consulted injuries 26,200,000 Death rate per 100,000 population 28.5 Costs $337.2 billion 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 Principal Types Of Home cause of hospital- Unintentional Injury Deaths, 2019 treated unintentional home injury deaths, according to the Home Safety Council.

(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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High-risk markets

A myriad of different programs in place across the United States provide insurance to owners of property in high-risk areas who may have difficulty obtaining coverage from the standard market. Residual, shared or involuntary market programs make basic insurance coverage more readily available. Today, property insurance 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’s Citizens Property Insurance Corp. and Louisiana’s Citizens Property Insurance Corp. 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. Beach and windstorm plans cover predominantly wind-only risks in designated coastal areas. Over the past four decades FAIR and beach and windstorm plans experienced explosive growth both in the number of policies and in exposure value. However, the number of policies in FAIR plans peaked in 2011 and has been falling steadily, albeit with upticks in 2019 and 2020. The total number of policies fell 49.7 percent from 2011 to 2018, while exposure dropped by 54.6 percent. From 2018 to 2020, total policies grew 10.1 percent while exposure grew 30.8 percent.

Renters and homeowners demographics

In 2019, 64.6 percent of housing units were owner occupied and 35.4 percent were renter occupied, according to the latest U.S. Census figures. In 2019, 32.1 percent of owner- occupied units housed people age 65 and over. The same year, 16.2 percent of rental units housed people over age 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 usually paid a higher percentage of their household income on these costs than did owners, 45.1 percent compared with 26.5 percent of homeowners who spent 30 percent or more of their income on housing costs in 2019.

In 2019 West Percent Of Occupied Housing Units Virginia, Maine, That Are Owner Occupied, 2019 Minnesota and Wyoming had the highest percentage of owner-occupied State Percent Rank (1) State Percent Rank (1) housing units. Alabama 68.8% 15 Montana 68.9% 14 The District of Alaska 64.7 38 Nebraska 66.3 27 Columbia had Arizona 65.3 35 Nevada 56.6 48 the lowest Arkansas 65.5 33 New Hampshire 71.0 7 percentage of owner-occupied California 54.9 49 New Jersey 63.3 40 units, followed Colorado 65.9 32 New Mexico 68.1 17 by New York, California, Connecticut 65.0 37 New York 53.5 50 Nevada, and Delaware 70.3 11 North Carolina 65.3 35 Hawaii. District of Columbia 41.5 51 North Dakota 61.3 46 Florida 66.2 28 Ohio 66.0 30 Georgia 64.1 39 Oklahoma 65.5 33 Hawaii 60.2 47 Oregon 62.9 42 Idaho 71.6 5 Pennsylvania 68.4 16 Illinois 66.0 30 Rhode Island 61.7 45 Indiana 69.3 13 South Carolina 70.3 11

Iowa 70.5 10 South Dakota 67.8 18 Kansas 66.5 24 Tennessee 66.5 24 Kentucky 67.0 22 Texas 61.9 44 Louisiana 66.5 24 Utah 70.6 9 Maine State Perc7e2n.2t Rank (12) VermSotnatte Perc7e0n.9t Rank (18) Maryland 66.8 23 Virginia 66.1 29 Massachusetts 62.2 43 Washington 63.1 41 Michigan 71.6 5 West Virginia 73.4 1 Minnesota 71.9 3 Wisconsin 67.2 20 Mississippi 67.3 19 Wyoming 71.9 3 Missouri 67.1 21 United States 64.1%

(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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Percent Of Mortgaged Owners Occupied Units Spending 30 Percent Or More Of Their Income On Homeownership Costs (1) In 2019, Hawaii,

California, New Jersey and State Percent (1) Rank (2) State Percent (1) Rank (2) Florida had the highest Alabama 22.6% 35 Montana 28.9% 10 homeownership Alaska 27.1 16 Nebraska 19.6 47 costs, based on Arizona 25.5 22 Nevada 28.3 13 the percentage of homes in Arkansas 21.5 39 New Hampshire 29.1 7 which owners California 36.9 2 New Jersey 32.5 3 spent 30 percent or Colorado 27.9 14 New Mexico 27.5 15 more of their Connecticut 30.6 6 New York 31.3 5 income on homeowner- Delaware 25.1 25 North Carolina 23.2 33 ownership D.C. 25.2 24 North Dakota 16.3 51 related Florida 32.2 4 Ohio 19.7 46 expenses.

Georgia 24.2 29 Oklahoma 20.5 43 North Dakota, Hawaii 40.9 1 Oregon 28.8 11 Indiana, Iowa and Kansas had Idaho 23.5 30 Pennsylvania 23.4 31 the lowest Illinois 25.5 22 Rhode Island 29.1 7 costs, based on Indiana 18.7 50 South Carolina 23.4 31 the percentage of homes in Iowa 18.8 49 South Dakota 22.5 36 which owners Kansas 19.3 48 Tennessee 22.8 34 spent 30 percent of Kentucky 21.2 41 Texas 26.5 17 LouisSiatantae Percent2 (41.6) Rank (226) UtahState Percent2 (41.3) Rank (228) more of their income on Maine 25.8 20 Vermont 25.9 19 homeowner- Maryland 26.0 18 Virginia 24.5 27 ownership expenses. 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) Percent of mortgaged owner-occupied housing units spending 30 percent or more of household income on selected owner costs such as all mortgage payments (first mortgage, home equity loans, etc.), real estate taxes, property insurance, utilities, fuel and condominium fees if applicable. (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, Percent Of Renter Occupied Units 45.1 percent Spending 30 Percent Or More Of Their of renters Income On Rent And Utilities, 2019 spent at least 30 percent of

their household State Percent (1) Rank (2) State Percent (1) Rank (2) income on rent and Alabama 40.9% 35 Montana 41.1% 33 utilities in Alaska 41.0 34 Nebraska 38.4 47 2019. Arizona 43.4 22 Nevada 48.2 5 In 2019 Arkansas 38.6 45 New Hampshire 44.3 19 North California 50.7 2 New Jersey 46.6 9 Dakota, South Colorado 47.7 6 New Mexico 41.7 31 Dakota, Connecticut 46.3 11 New York 47.3 8 West Virginia and Delaware 46.6 9 North Carolina 42.6 25 Kentucky D.C. 40.6 37 North Dakota 35.5 51 had the Florida 52.4 1 Ohio 40.4 38 lowest percentage Georgia 44.8 16 Oklahoma 39.5 42 of rental Hawaii 49.7 4 Oregon 45.5 14 units in which Idaho 42.7 24 Pennsylvania 43.6 21 occupants Illinois 42.4 26 Rhode Island 45.9 13 spent 30 percent or Indiana 41.7 31 South Carolina 42.0 28 more of their IowaState Percent3 (81.6) Rank (425) SouthS tDaatkeota Percent3 (51.9) Rank (520) income on Kansas 39.5 42 Tennessee 42.1 27 rent. Florida, California, Kentucky 38.3 48 Texas 44.8 16 Vermont and Louisiana 44.4 18 Utah 41.8 29 Hawaii had Maine 39.8 41 Vermont 50.6 3 the highest percentage. 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) 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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