Florida’s residential home insurance premiums have been the highest in the nation since 2020, averaging $2,794 per year through the third quarter of 2025. Across all residential insurers, the average yearly bill has increased by 63 percent since 2020. That’s according to a recent report from Florida TaxWatch.
The report, called the Council for Community and Economic Research’s Cost of Living Index (COLI), looks at the prices of goods and the budgets of the average household across the country to compare how expensive states are relative to one another at a point in time.
The report listed some interesting facts.
In 2020, Florida had the 16th-highest average asking rent; by 2025, it rose to the 6th-highest in the nation.
90% of Floridians polled stated they were somewhat concerned or very concerned about inflation, or the increase in price levels over time. Nearly 50% say they have considered moving out of Florida due to the cost of living.
Florida’s cost of living is outpacing both its own historical trend and the broader Southern region, confirming residents’ concerns are grounded in data — not just perception.
The 2020s changed everything: Annual cost-of-living growth nearly quintupled compared to the previous decade, affecting housing, groceries, utilities, and childcare alike.
Housing leads the surge: Insurance premiums, rising property taxes, and skyrocketing rents have made Florida one of the most expensive places to live in the South — for both owners and renters.
Inflation is easing, but not gone: Price growth has slowed since its 2022 peak, and Florida’s no-income-tax advantage provides some offset — but costs remain significantly above pre-pandemic baselines.
Florida TaxWatch says state policy must step up: With national monetary policy as the primary inflation lever, Florida-level action on housing, health care, and property insurance affordability is essential to keeping the state livable for all residents.
