Around 44.1 million households in the United States are renters, with these households paying around $485 billion in rent each year, according to reporting from The Zebra. This means over one-third of households in the U.S. are renters. Of these, more than 22.4 million households spend over 30% of their income on rent, with 12.1 million spending more than 50%.
On top of rent, they must also consider the expense of renters coverage. Renters insurance premiums in the United States average $148 annually, or about $12 each month, according to NerdWallet.
The states with the cheapest renters insurance in the U.S. include Wyoming, Alaska, Wisconsin, Iowa and Vermont. States where renters should expect to pay the highest premiums, NerdWallet reports, are Georgia, Oklahoma, Arkansas, Mississippi and Louisiana.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
