The average annual property insurance payment for single-family mortgage holders has climbed to nearly $2,370 per year, accounting for 9.6% of average monthly mortgage-related expenses when factoring in principal, interest, taxes and insurance (PITI), according to ICE Mortgage Technology’s latest Mortgage Monitor report.
That’s the highest share on record and underscores the disproportionate role insurance costs are playing in rising homeownership expenses.
The report shows that property insurance costs have grown 11.3% over the past year and have risen nearly 70% over the past five years, outpacing growth in other mortgage-related expenses.
“Property insurance costs continue to be the fastest growing subcomponent of mortgage payments among existing homeowners,” says Andy Walden, head of mortgage and housing market research at ICE, in the report. “While mortgage principal, interest and property tax payments have all increased in recent years, insurance has far outpaced those gains, rising 4.9 percent in 2025, 11.3 percent annually and nearly 70 percent over the past five and a half years. That rapid escalation now means insurance alone consumes almost one in every ten dollars spent on average mortgage-related costs.”
Average property insurance payments rose 4.9% in the first half of 2025, according to the report. While this is down from the 7.3% increase seen over the first half of 2024, it still represents a historically high growth rate.
Photo: Steve Gribble
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.