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Property insurance costs average $209 a month for homeowners in Q2 2026
ICE data shows U.S. property insurance costs rose 1.8% from Q1 and 8.7% year over year in Q2 2026, while higher coverage limits drove about two-thirds of the annual increase.
U.S. property insurance costs reached a record high in Q2 2026, averaging $209 per month for the average single-family mortgage holder, according to ICE Mortgage Monitor data cited by HousingWire.
The report said insurance costs equaled 9.6% of the average monthly mortgage payment, up nearly 80% versus the start of 2020. Costs increased 1.8% quarter over quarter, the smallest quarterly gain since ICE began tracking the metric, and rose 8.7% year over year.
HousingWire reported that coverage limits accounted for about two-thirds of the annual increase in Q2 2026, with coverage limits up 5.5% and the cost per $1,000 of coverage rising 3%. The pace of increases is starting to slow after earlier peaks, including a 15.1% year-over-year increase in late 2024.
Insurance costs vary widely by location. HousingWire noted that property insurance made up 24.3% of the average mortgage payment in New Orleans, versus 4.3% in San Jose, and that Greenville, South Carolina saw costs rise 15.8% annually while Honolulu gained 14.7%. The report also found homeowners who switched private insurance carriers reduced their insurance payments by an average of 6.6% over the past year.