The Average Home Insurance Cost in the U.S. for February 2024

The average cost of homeowners insurance in the U.S. is about $1,820 a year, but rates vary by state.
Sarah Schlichter
By Sarah Schlichter 
Updated
Edited by Caitlin Constantine Reviewed by Brenda J. Cude

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Homeowners insurance costs an average of $1,820 a year, or about $152 a month, according to NerdWallet’s analysis. However, this is just a benchmark.

Our sample policy was for a 40-year-old homeowner with good credit, $300,000 of dwelling coverage, $300,000 of liability coverage and a $1,000 deductible. The cost of your homeowners insurance will depend on your location, the size of your house and how much coverage you need.

We’ve analyzed pricing data from more than 100 insurance companies to bring you the average homeowners insurance cost in every state and the largest U.S. cities.

Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our writing and data analyses. You can trust the prices we show you because our data analysts take rigorous measures to eliminate inaccuracies in pricing data and may update rates for accuracy as new information becomes available.

We include rates from every locale in the country where coverage is offered and data is available. When comparing rates for different coverage amounts and backgrounds, we change only one variable at a time, so you can easily see how each factor affects pricing. Read our methodology.

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How much is home insurance in your state?

Where you live is a big factor in how much you’ll pay for homeowners insurance. Hover over your state on the map below to see the average home insurance cost.

Average homeowners insurance rates vary widely. Our analysis found that the average home insurance cost is less than $1,000 in some states, including Hawaii, Delaware and Vermont. Meanwhile, states such as Oklahoma, Nebraska and Texas have average annual rates above $3,000.

Here are annual and monthly average home insurance costs by state.

State

Average annual cost

Average monthly cost

National average

$1,820

$152

$2,385

$199

$1,325

$110

$1,530

$128

$3,020

$252

$1,300

$108

$2,580

$215

$1,405

$117

$875

$73

$2,385

$199

$2,080

$173

$490

$41

$1,165

$97

$1,670

$139

$1,610

$134

$1,790

$149

$2,955

$246

$2,370

$198

$2,675

$223

$1,020

$85

$1,300

$108

$1,320

$110

$1,345

$112

$1,685

$140

$2,510

$209

$2,735

$228

$2,065

$172

$3,710

$309

$1,065

$89

$865

$72

$965

$80

$1,790

$149

$1,365

$114

$2,325

$194

$2,065

$172

$1,140

$95

$4,365

$364

$1,105

$92

$995

$83

$1,280

$107

$2,055

$171

$2,605

$217

$1,980

$165

$3,875

$323

$950

$79

$815

$68

$1,190

$99

$1,215

$101

$995

$83

$1,205

$100

$1,125

$94

$1,685

$140

Here are the cheapest states for homeowners insurance:

  1. Hawaii: $490 a year, or about $41 a month, on average.

  2. Vermont: $815 a year, or about $68 a month, on average.

  3. New Hampshire: $865 a year, or about $72 a month, on average.

  4. Delaware: $875 a year, or about $73 a month, on average.

  5. Utah: $950 a year, or about $79 a month, on average.

These are the most expensive states for homeowners insurance:

  1. Oklahoma: $4,365 a year, or about $364 a month, on average.

  2. Texas: $3,875 a year, or about $323 a month, on average.

  3. Nebraska: $3,710 a year, or about $309 a month, on average.

  4. Arkansas: $3,020 a year, or about $252 a month, on average.

  5. Kansas: $2,955 a year, or about $246 a month, on average.

How much is homeowners insurance in your city?

We analyzed prices in 20 of the largest metropolitan areas in the U.S. to find the average homeowners insurance cost in each city. Houston had the most expensive average rate at $4,595 a year. Meanwhile, Las Vegas was the cheapest city on the list, with an average annual rate of $1,085.

City

Average annual cost

Average monthly cost

Austin, Texas

$2,580

$215

Charlotte, North Carolina

$1,685

$140

Chicago

$2,115

$176

Columbus, Ohio

$1,175

$98

Dallas

$4,255

$355

Denver

$3,135

$261

El Paso, Texas

$2,250

$188

Fort Worth, Texas

$4,535

$378

Houston

$4,595

$383

Indianapolis

$1,835

$153

Jacksonville, Florida

$1,935

$161

Las Vegas

$1,085

$90

Los Angeles

$1,645

$137

New York

$2,065

$172

Philadelphia

$1,505

$125

Phoenix

$1,890

$158

San Antonio

$2,900

$242

San Diego

$1,185

$99

San Francisco

$1,340

$112

San Jose, California

$1,095

$91

Average homeowners insurance cost by company

We looked at average rates from some of the largest homeowners insurance companies in the U.S. by market share.

Erie came in as the cheapest on the list, with an average annual rate of $1,430. Meanwhile, Foremost was the most expensive, with an average annual rate of $2,590.

Here are average annual home insurance rates for some of the largest companies. Note that some may not offer homeowners insurance in your state. Click on each company’s name to read our review.

Company

Average annual cost

Average monthly cost

$1,430

$119

$1,500

$125

$1,660

$138

$1,725

$144

$1,935

$161

$1,980

$165

$2,180

$182

$2,190

$183

Foremost

$2,590

$216

$1,775

$148

*USAA homeowners insurance is available only to active-duty military members, veterans and their families.

Average home insurance cost by dwelling coverage amount

One of the biggest factors in how much your homeowners policy costs is how much dwelling coverage you need. Dwelling coverage is the part of your policy that pays to rebuild the structure of your home if it’s damaged or destroyed.

If your house is large or has high-end features, it’ll cost more to rebuild and you’ll need more dwelling coverage. Below are average home insurance costs for four amounts of coverage.

Dwelling coverage amount

Average annual insurance cost

$200,000

$1,335

$300,000

$1,820

$400,000

$2,300

$500,000

$2,795

Average homeowners insurance cost by claims history

If you have previous homeowners insurance claims, you’ll likely pay a higher rate. Here’s how filing a claim could affect your homeowners insurance costs.

Number of claims

Average annual insurance cost

0

$1,820

1

$1,985

Average homeowners insurance cost by home age

Older homes often cost more to insure because they typically don’t have the safety features that newer homes do, and repairs can be costly. See below to compare the average annual cost of insuring a new home versus an older home. (Coverage limits were the same for all three houses.)

Date home was built

Average annual insurance cost

1955

$1,825

1984

$1,820

2022

$1,135

What does a home insurance rate include?

Homeowners insurance policies typically include six standard types of coverage:

  • Dwelling. This pays for damage to your home from a covered event, such as a fire or windstorm.

  • Other structures. This covers structures on your property that aren't attached to your house, such as a fence or shed.

  • Personal property. This pays for stolen or damaged belongings.

  • Loss of use, or additional living expenses coverage. This pays for you to stay elsewhere when your home is uninhabitable because of covered damage.

  • Personal liability. This pays if you accidentally injure someone or damage their property.

  • Medical payments. This covers medical bills for anyone injured on your property, no matter who's at fault.

How to reduce the cost of homeowners insurance

Insurers use a variety of factors to set homeowners insurance rates. For example, you might pay more if you live in a neighborhood with a high crime rate or an area prone to hurricanes. You’ll also have higher rates if you have a larger home that needs more coverage.

Did you know...

Inflation doesn't just affect gas and food prices. Homeowners insurance rates are also going up because it has gotten more expensive to repair and rebuild houses after they're damaged. That's why you may see a higher homeowners premium at your next renewal, even if you haven't filed any recent claims.

Some insurers will charge more for things like installing a swimming pool or having a dog breed they consider aggressive. (They see these scenarios as potential liability claims if someone gets hurt.)

Aside from selling your house or getting rid of your furry pal, there are many ways to reduce what you pay for homeowners insurance:

Shop around. Getting home insurance quotes annually is the best way to ensure you’re still getting the best possible deal. We recommend comparing rates from at least three companies. Make sure the coverage limits and deductibles are similar on all three policies to get a fair comparison.

If you're not up for shopping around yourself, contact an independent agent or broker to get quotes on your behalf.

Raise your deductible. A higher home insurance deductible will mean a lower rate. Raising your deductible from $1,000 to $2,500 can save you 11% a year on average, according to NerdWallet’s rate analysis. Make sure you have enough cash tucked away to pay it if you need to file a claim.

Ask about discounts. Many insurers offer discounts to help customers get lower homeowners insurance rates, such as:

  • Multiple policies. If you bundle your homeowners insurance with another policy, such as car insurance, you could get a discount. See the best home and auto bundles.

  • Safety and security devices. You could save money by equipping your home with fire alarms, deadbolts, security cameras and other security devices. Some companies also offer discounts for certain smart-home devices.

  • Claims-free. Many insurers offer a discount to homeowners who haven’t filed a claim recently, typically in the past three to five years.

Make renovations. Certain upgrades — such as updating an electrical or plumbing system — could lower homeowners insurance costs. Getting a new roof could also net you a discount, especially if it’s resistant to wind and/or hail.

Build your credit. In most states, insurers can use your credit-based insurance score (similar to your FICO score) to set rates. Because some studies have shown a correlation between poor credit and filing claims, those with a checkered credit history may pay more for homeowners insurance.

For example, the sample homeowner in our rate analysis has good credit and would pay $1,820 a year for insurance, on average. For the same house and coverage limits, a homeowner with poor credit would pay $3,525, on average — a 94% jump. Though it may take time, building your credit could save you a lot on homeowners insurance over the long run.

Using credit to set homeowners, renters, condo and mobile home insurance prices is not allowed in California, Maryland and Massachusetts.
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Find the best homeowners insurance in your state

Don't see your state below? Check back soon — we’re adding more home insurance stories all the time.

Frequently asked questions

Your homeowners insurance might cost more than expected if your home is older, your region is at high risk for natural disasters or you have poor credit, among other factors. But every insurance company prices policies a little differently. So if you’re unhappy with your rate, get quotes from at least three other companies to see whether you can find a better deal.

Most carriers offer discounts if you buy more than one policy or if you safeguard your home with a burglar alarm or sprinkler system. Opting for a higher deductible can also save you money, as long as it’s an amount you could cover in a disaster.

Some companies offer discounts if you pay your premium in full upfront rather than in monthly installments.

Methodology

NerdWallet averaged rates for 40-year-old homeowners from a variety of insurance companies in every ZIP code across the U.S. All rates are rounded to the nearest $5.

Sample homeowners were nonsmokers with good credit living in a single-family, two-story home built in 1984. They had a $1,000 deductible and the following coverage limits:

  • $300,000 in dwelling coverage.

  • $30,000 in other structures coverage.

  • $150,000 in personal property coverage.

  • $60,000 in loss of use coverage.

  • $300,000 in liability coverage.

  • $1,000 in medical payments coverage.

We made minor changes to the sample policy in cases where rates for the above coverage limits or deductibles weren’t available.

We used the same assumptions for all other homeowner profiles, with the following exceptions:

  • For homeowners with a claims history, we added a single wind damage claim.

  • To see the effect of changing your deductible, we raised the deductible from $1,000 to $2,500.

  • For homeowners with older homes, we changed the year the house was built to 1955.

  • For homeowners with newer homes, we changed the year the house was built to 2022.

  • We changed the credit tier from “good” to “poor” as reported to the insurer to see rates for homeowners with poor credit. In states where credit isn’t taken into account, we only used rates for “good” credit.

  • To see the effect of changing your dwelling coverage amount, we changed the limit to $200,000, $400,000 or $500,000. This also changed some of the other coverage limits that were tied to the dwelling coverage amount. For example, the other structures coverage limit is typically 10% of the dwelling coverage amount, so our sample policy with $200,000 of dwelling coverage had $20,000 of other structures coverage.

These are sample rates generated through Quadrant Information Services. Your own rates will be different.

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