This week, LendingOne analysts parsed through state-level homeowners insurance data to determine what single-family investors are seeing across the country.
LendingOne’s top-line findings:
- U.S. homeowners insurance effective rates increased 11.3% in 2023—up from a 6.2% increase in 2022. That’s eating into some investors' rental cash flow.
- Last year, homeowners insurance rates increased the most in Southwestern markets.
- The cost of homeowners insurance has increased the most in Texas since 2018, with a cumulative increase of 60% over the past five years.
- Texas: +23.3%
- Arizona: +21.8%
- Utah: +20.3%
- Illinois: +18.5%
- Oregon: +16.5%
