Renters insurance rates vary by more than 3.3x between the cheapest and most expensive states. The table below shows MoneyGeek's 2025 average monthly premiums for all 50 states and Washington, D.C., for $20,000 in personal property coverage with $100,000 in liability. State names link to MoneyGeek's dedicated renters insurance pages where available.
Renters Insurance Cost by State
Updated: August 24, 2026
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Key Takeaways
Based on MoneyGeek's 2025 rate data, the national average for renters insurance is $15 per month ($182 per year). That's for $20K in personal property coverage, which pays to replace your belongings if they're stolen or damaged, plus $100K in liability coverage.
Wyoming is the cheapest state at $18 per month; Mississipi is the most expensive at $82 per month.
Coverage amount matters as much as location. Choosing $20K in personal property coverage instead of $100K cuts the average monthly premium from $43 to $15.
How Much Does Renters Insurance Cost in Your State?
Renters Insurance Rates by State, Coverage and Replacement Cost
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Want a more personalized estimate? Use the calculator below to see what renters insurance costs based on your state and coverage level.
What's the Average Cost of Renters Insurance?
Renters insurance costs $43 per month on average nationally for $100,000 in personal property coverage, based on our analysis. For renters who need less coverage, the national average drops to $15 per month for $20,000 in personal property coverage.
$20K Personal Property / $100K Liability | $15 |
$50K Personal Property / $100K Liability | $26 |
$100K Personal Property / $100K Liability | $43 |
$250K Personal Property / $300K Liability | $90 |
These are averages. Individual premiums depend on your insurer, deductible, location within a state and any discounts you qualify for. A renter in central Florida with older electronics pays a different rate than one in coastal Miami with the same coverage limits.
Cheapest States for Renters Insurance
Wyoming | $8.64 | $103.67 |
Wisconsin | $9.37 | $112.49 |
North Dakota | $9.42 | $113.05 |
Delaware | $10.03 | $120.30 |
Iowa | $10.23 | $122.78 |
South Dakota | $10.26 | $123.18 |
New Mexico | $10.49 | $125.93 |
Vermont | $11.18 | $134.19 |
New Hampshire | $11.49 | $137.91 |
Rhode Island | $11.62 | $139.42 |
Wyoming and Wisconsin stand out even within this group. Our data shows both states generate among the fewest claims per insured renter nationally. Sparse populations keep theft incidents low, and neither state sits in a hurricane or tornado corridor. The practical takeaway: renters in these 10 states pay roughly 40% less than the national average for identical coverage. That gap is large enough that upgrading from $20K to $50K in personal property coverage in Wyoming still costs less than a basic $20K policy in Louisiana.
MONEYGEEK EXPERT TIP
Most renters underestimate what they own. A standard apartment often adds up to $30,000 to $50,000 in replacement value. Choosing $20K in coverage saves $28 a month versus $100K, but leaves you exposed if a fire or break-in wipes you out. Two numbers control your premium: your coverage limit and your deductible, meaning the amount you pay out of pocket before your insurer covers the rest. Only raise your deductible to what you could pay the same day a claim happens. Use our renters insurance calculator to find the right coverage amount.
Most Expensive States for Renters Insurance
Mississippi is the most expensive state for renters insurance at $29 per month ($346 per year) for $20,000 in personal property coverage, based on our data. Louisiana ($28/month) and Florida ($24/month) follow closely. Gulf Coast and Southeast states dominate the top of this list, driven by hurricane exposure and high claim frequency.
Mississippi | $28.80 | $345.63 |
Louisiana | $28.20 | $338.39 |
Florida | $24.12 | $289.39 |
Alabama | $20.93 | $251.11 |
Arkansas | $20.54 | $246.49 |
Arizona | $19.79 | $237.50 |
South Carolina | $19.47 | $233.64 |
Georgia | $19.01 | $228.18 |
Oklahoma | $18.94 | $227.29 |
Michigan | $18.26 | $219.17 |
Wyoming renters pay $9 per month ($104 per year) for $20,000 in personal property coverage. the lowest rate in the country based on our 2025 data. What that number tells us is that geography does most of the pricing work before an insurer ever looks at your credit score or claims history. In low-risk states, the same coverage that costs $29 a month in Mississippi costs $9 in Wyoming. If you're renting in one of these states, our data suggests you have room to buy more coverage than the $20K baseline without coming close to what renters in Gulf Coast states pay for the minimum
Why Renters Insurance Rates Differ by State
Renters insurance rates vary by state because insurers price policies based on the likelihood and cost of claims in a given area. No law, state or federal, requires you to carry renters insurance, but landlords can require it.
Natural Disaster ExposureStates with high hurricane, tornado, wildfire or flooding risk see more frequent and more costly claims. Louisiana renters pay nearly 5x what Wyoming renters pay because the risk of a single hurricane claim dwarfs anything a renter in Cheyenne would typically encounter.
Local Crime RatesPersonal property coverage pays out when belongings are stolen. Dense urban areas with higher theft rates generate more claims, pushing premiums up. Cities within low-cost states can still carry above-average premiums for this reason.
Property Replacement CostsInsurers factor local replacement costs (what it actually costs to buy a new equivalent of a stolen or damaged item) into personal property coverage pricing. In states where a replacement laptop or sofa costs more, claim payouts are higher, and premiums reflect that.
State Insurance Regulations and Market CompetitionSome states regulate how insurers can price and adjust policies. States with more carrier competition tend to have lower premiums because insurers compete on price. Thinly served markets where few carriers operate can trend higher.
Population DensityMore renters in a dense area means more claims overall. Liability claims, which cover legal costs and damages if someone is injured in your unit or you damage a neighbor's property, are also statistically more common in high-density environments. This contributes to higher premiums in major metro markets.
Bottom Line
Renters insurance costs an average of $15 per month for $20,000 in personal property coverage,which pays to replace your belongings if they're stolen, damaged or destroyed. Your state and coverage amount are the two variables that affect your premium most. Wyoming renters pay $9 a month for that same limit; Mississippi renters pay the most at $29, and Louisiana renters pay $28.Most renters fall somewhere in the middle and are better served by a policy that reflects what they actually own than one chosen purely on price.
To lower your premium, start with bundling. Most major insurers offer 5% to 15% off for combining renters and auto policies. Note that California, Hawaii and Massachusetts prohibit insurers from using credit scores in pricing, so that discount lever doesn't apply in those states.
Frequently Asked Questions
Here are some frequently asked questions about renters insurance cost.
Wyoming has the cheapest renters insurance at $9 per month ($104 per year) for $20,000 in personal property coverage and $100,000 in liability, based on MoneyGeek's 2025 rate data. Wisconsin ($9 a month), North Dakota ($10 a month) and Iowa ($10 a month) are also among the most affordable. These states share low population density and limited catastrophic weather exposure, which keeps claim frequency and premiums low.
Louisiana has the most expensive renters insurance at $82 per month ($986 per year) for $100,000 in personal property coverage with $100,000 in liability, based on our data. Florida ($79 a month) and Mississippi ($79 a month) also rank among the most expensive states at that coverage level. Note that at the $20,000 personal property tier, Mississippi ($29 a month) is the most expensive state, edging out Louisiana ($28 a month). Hurricane and severe storm exposure drives elevated premiums across the Gulf Coast and Southeast regardless of coverage leve
Renters insurance costs $15 per month on average nationally for $20,000 in personal property coverage with $100,000 in liability, based on MoneyGeek's 2025 analysis. For renters who need more protection, the average rises to $43 per month at the $100,000 coverage tier. Your actual premium depends on your state, insurer, deductible and coverage limits.
Yes, generally. Renters in urban areas tend to pay more than those in rural areas, mainly because cities have higher theft rates, more liability claims and greater property replacement costs. That said, location within a state matters as much as city versus rural. A renter in a dense Chicago neighborhood pays more than one in rural Illinois, even though both are in the same state. Natural disaster exposure can also override this pattern. A rural renter in coastal Louisiana pays far more than an urban renter in landlocked Wyoming.
Natural disaster exposure is the biggest driver. States along the Gulf Coast like Louisiana ($82/month) and Florida ($79/month) pay far more than inland states like Wyoming ($18/month at the $100,000 personal property coverage tier) because hurricane and storm surge claims are frequent and costly. For context, Wyoming renters pay just $9 a month at the $20,000 coverage tier, which is the baseline used throughout this page. Beyond weather risk, higher local crime rates, expensive property replacement costs and thinner insurance markets with fewer competing carriers all push premiums above the national average of $43 per month.
About Mark Fitzpatrick
Mark Fitzpatrick, a licensed Property and Casualty (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident expert in insurance and economics. He has spent nearly a decade covering the insurance market at LendingTree and MoneyGeek. There, he has analyzed hundreds of carriers and millions of rates across auto, home, renters, health and life insurance.
His work has appeared in The Washington Post, The New York Times and NPR. He draws on independent cost and consumer experience data, and no insurance company partnerships affect his recommendations.
Mark studied at Boston College and later earned a master's in economics and international relations from Johns Hopkins University. He worked in financial risk management at State Street before joining MoneyGeek. He's also a five-time “Jeopardy!” champion.