Home Insurance Premiums Increase Faster Than Income Growth

Wide regional disparity was seen based on the risk of severe weather events.

A home for sale in a residential neighborhood in San Jose, Calif., on Aug. 15, 2024. Loren Elliott/Getty Images

Insurance rates for homes nationwide have surged by 38 percent since 2019.

This is roughly double the 22 percent growth in median homeowner income during this period, real estate marketplace Zillow said in a June 6 statement.