"Property insurance costs continue to be the fastest growing subcomponent of mortgage payments among existing homeowners, said Andy Walden, head of mortgage and housing market research at ICE Mortgage Technology. While mortgage principal, interest and property tax payments have all increased in recent years, insurance has far outpaced those gains, rising 4.9% in 2025, 11.3% annually and nearly 70% over the past five and a half years."
"Data shows that annual property insurance payments for single-family mortgage holders now average nearly $2,370. That amounts to 9.6% of monthly mortgage-related expenses, the highest share on record. That rapid escalation now means insurance alone consumes almost one in every $10 spent on average mortgage-related costs. Slower but steady growth: Property insurance payments rose 4.9% in the first half of 2025, driving an 11.3% increase year-over-year."
"The cost per $1,000 of coverage rose by $0.29, or 5%, over the past 12 months, and by $0.85, or 16%, since 2022. The increases show that higher premiums reflect not only rising home values but also more expensive coverage. Regional differences: California saw the largest increases in the first half of 2025, with Los Angeles premiums up 9% in six months and 19.5% year-over-year."
Annual property insurance payments for single-family mortgage holders now average nearly $2,370 and account for 9.6% of monthly mortgage-related expenses, the highest share on record. Insurance rose 4.9% in the first half of 2025 and 11.3% year-over-year, and has increased nearly 70% over the past five and a half years. Over the same period principal rose 23%, interest 27%, and property taxes 27%. The cost per $1,000 of coverage increased $0.29 (5%) over 12 months and $0.85 (16%) since 2022. California experienced the largest recent increases while Florida showed signs of moderation.
Read at www.housingwire.com
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