Some Homeowners Hope and Save in Place of Insurance
During the past five years, Texas homeowners have experienced a rise in insurance premiums that outpaced the rest of the U.S. A few insurers have chosen to limit business in the state. Higher costs and fewer options leave some Texans in a perilous situation — going without. It’s one aspect further complicating the state’s reputation for lower housing costs.
“One thing that concerns me as we look to the next 15 to 20 years is the affordability of housing. As we grow, we need to ensure we have a balance for everyone in the community.”
—Texas Comptroller Glenn Hegar
HOUSING REPORT RECAP
Home Inventory Shortage Puts the Squeeze on Texans
In early 2024, U.S. housing affordability — the ability of someone with a median family income to afford median-priced housing — hit its lowest level since 1985. In our recent report, the Housing Affordability Challenge, researchers with the Comptroller's office examined factors contributing to those rapidly rising costs and how the crisis is affecting Texans.
As a public service to Texas, Fiscal Notes is not copyrighted. You are welcome to republish content in newsletters, publications and other communications channels. Was this email forwarded to you? Subscribe.
