The States Where Home Insurance Now Costs More Than Property Taxes
Summary
Home insurance costs more than property taxes in 15 U.S. states, especially in the South. This is due to increasing insurance premiums caused by natural disasters and higher rebuilding costs, making homeownership less affordable.Key Facts
- In Tennessee, home insurance averages $284 per month, nearly twice the $143 average property tax.
- Alabama homeowners pay about $182 monthly for insurance and $93 for property taxes.
- New Jersey and New York have the highest property taxes—$863 and $626 monthly—but lower insurance costs.
- Nationwide, the average monthly home insurance is $200, while property taxes are $311.
- States like Colorado, South Carolina, Arkansas, and others also have higher insurance than property taxes.
- Higher insurance costs result from more frequent natural disasters and increased rebuilding expenses.
- Property taxes have risen over 30% between 2019 and 2025.
- Home insurance premiums have increased 46% since 2021, outpacing inflation and expected to rise further in 2026.
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