Home insurance policyholders with single-family mortgages paid roughly 80% higher premiums nationwide as of June compared to early 2020 levels.

That figure was reported Friday in ICE Mortgage Technology’s latest monthly report on U.S. mortgage trends, which have been grappling for years with destabilization in property insurance markets.

Through June, mortgaged homeowners were paying a record $209 per month on average for homeowners insurance, or roughly $2,508 annually compared to $2,370 a year prior.

Advertisement

That left home insurance costs accounting for 9.6% of average monthly mortgage payments inclusive of principal, interest, taxes and insurance — the same record-setting level that ICE reported one year ago.

However, the servicing technology and data provider said Friday that the pace of insurance cost increases has softened from recent years of double-digit annual growth, which had fueled a spike in carrier withdrawals across key markets like Florida and California.

“Property insurance has been a fast-growing component of the monthly mortgage payment, but this quarter’s data shows the pace of increase is finally slowing,” noted Andy Walden, who leads mortgage and housing market research at ICE.

Insurance costs were 8.7% higher on average over the 12 months ending in June compared to annual growth of 11.4% at the start of 2026 and a peak of 15.1% at the end of 2024, according to ICE’s analysis. Quarterly growth of 1.8% was slightly below the first quarter’s increase of 1.9% and 2% growth during the last three months of 2025.

ICE says it calculates annual and quarterly rate increases by comparing mortgage holders’ insurance payments on a repeat, three-month rolling basis. The slowdown in rate increases corresponds to separate reporting in early August from digital insurance brokerage Matic.

Examining premium growth over the first half of 2026, Matic said prices for new policies were about 6% higher than the first half of 2025, which was down from 8.1% growth a year ago. That report also flagged diverging price trends between policy renewals and new underwrites, which ICE’s data release on Friday also flagged.

Homeowners opting to renew existing policies ultimately face larger rate increases in general, which averaged 10.6% in the first half of 2026 compared to 5.9% for new policies, Matic reported. ICE said premium renewals averaged 10.4% growth from a year ago in June, compared to 6.6% average premium savings for those who switched carriers.

“Carrier switching is paying off for borrowers more than at any point since ICE began tracking the metric in 2014,” said Friday’s mortgage report, which noted that about 11% of mortgage borrowers changed providers over the 12 months ending in June.

Regional patterns further underpin how much premium pressure or relief individual homeowners may experience, as insurance trends remain unstable and insurance costs remain historically high.

ICE said the largest insurance cost increases are concentrated in the inland Southeast markets responding to the aftermath of late 2024’s Hurricane Helene, as well as upper Midwestern markets facing escalating hail damage and severe convective storms. Hawaii and California also saw notable increases.

Greenville, S.C., led major markets in rate increases, with the average single-family mortgage holder observing a 15.8% jump over the 12 months ending in June. Honolulu followed at 14.7% growth, trailed by Columbia, S.C., Minneapolis and Augusta, Ga., all around 13%.

“Florida, the Gulf Coast, the Texas border and the Southwest saw the smallest,” said ICE.