Homeowners in some of the biggest U.S. metros are paying up to 7% of their monthly home ownership costs for insurance, according to a new study.
Roughly $146 of the typical $2,077 monthly housing bill is dedicated to property insurance, the study from ValuePengiun shows. It examined monthly homeownership costs and monthly household income in the 50 largest U.S. metros.
Miami topped the list with 13.1% of monthly housing costs going towards property insurance, a $300.40 insurance spend out of the total monthly cost of homeownership of $2,292.70, according to the study.
Oklahoma City (13.0%)