"According to newly released American Community Survey (ACS) data from the U.S. Census Bureau, Minnesota homeowners with a mortgage typically pay $1,500-$1,999 annually for homeowners insurance, while those without a mortgage average the same $1,500-$1,999. Overall statewide costs also fall into the $1,500-$1,999 range. Minnesota has 1,692,435 insured homeowner households in total-1,059,567 with a mortgage and 632,868 without. Among mortgaged owners, 104,377 pay less than $100 annually and 102,796 pay $4,000 or more."
"Among those without a mortgage, 104,674 pay less than $100 and 50,840 pay $4,000 or more. Compared with nearby states, Minnesota sits on the higher end. Wisconsin, Illinois, and Iowa homeowners with a mortgage typically pay $1,000-$1,499, while Michigan averages the same for mortgaged owners and even less ($800-$999) for those without. North Dakota also falls into the lower category at $1,500-$1,999 for mortgaged households, matching Minnesota but trending slightly less for non-mortgaged."
ACS data from the U.S. Census Bureau shows Minnesota homeowners with or without a mortgage typically pay $1,500–$1,999 annually for homeowners insurance. The state counts 1,692,435 insured homeowner households, including 1,059,567 with a mortgage and 632,868 without. Among mortgaged owners, 104,377 pay under $100 and 102,796 pay $4,000 or more; among non-mortgaged owners, 104,674 pay under $100 and 50,840 pay $4,000 or more. Minnesota’s insurance costs are higher than neighboring Wisconsin, Illinois, Iowa and Michigan, yet remain far lower than storm-prone Gulf Coast states such as Florida and Louisiana.
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]