How fast are homeowners insurance premiums rising?

The average US homeowners insurance premium rose 11.2% in 2022 vs 2021 (NAIC study, latest data as of May 2025); renters premiums rose 0.6% the same year.

Premium growth has been steep in recent years: the average homeowners insurance premium rose by 11.2 percent in 2022 from 2021, according to a May 2025 study by the National Association of Insurance Commissioners (NAIC) — the latest data the Insurance Information Institute lists as available. Renters insurance moved the other way: the average renters premium rose only 0.6 percent in 2022, breaking seven consecutive annual declines. Affordability data shows US households on average spend about 1.99 percent of income on homeowners insurance, ranging roughly from 0.96 percent (Utah, 2021) to 4.07 percent (Florida). When budgeting a home purchase, the premium trend matters as much as the first-year quote: a market repricing at double-digit rates can change total ownership cost materially by renewal two and three.