Saving Money with Renters Insurance in Ohio
Do you spend half of your income on having a roof over your head? You’re not alone, as new figures released by the National Housing Conference show that 1 in 4 American households spend half or more of their salary on housing. Thankfully, renters insurance in Ohio isn’t as costly!
The figures show that nearly 20 percent of employed Ohioan households pay more than half their income on renting or owning their home. This equates to around 324,000 people. Considering that housing is deemed to be more affordable when it costs 30 percent or less of your income, these figures are causing concern.
Added to this is increased demand for rental properties, which exceeds supply. Demand for property tends to push rental rates up, which leaves many people out of a home. The demand has come off the back of foreclosures and high unemployment.
While the figures show rental rates have increased, there are still affordable rentals in the area. As a renter, you may not be able to do much to prevent your rent rising. The good news is however that you can protect your belongings while you rent, with renters insurance in Ohio. Call our agency to find out how affordable this coverage can be.