Multifamily Insurance Premiums Have Doubled Since 2021

You renew the policy and the premium is up again — the third year running. It's not a line you can negotiate away, and it's not going back to where it was. So the question stops being “how do we cut insurance” and becomes “what can we actually control instead.”

The number

Multifamily insurance premiums rose 14%, then 22%, then 45% year over year from 2021 to 2024 — roughly doubling over the span. Insurance now runs about 4.78% of revenue, versus 1.95% in 2000, and it has been growing more than twice as fast as net operating income.

Operators are budgeting an extra $275–356 per unit, and high-hazard markets like Houston exceed $1,200 per unit. Even as pricing softens at the margin, the level has been permanently reset.

The problem this exposes

When a fixed line like insurance runs away from NOI, the math only balances if the controllable costs are genuinely under control — and most operators don't actually know, in real time, where their controllable dollars are going. The runaway fixed cost is the headline; the quiet drift in the lines you could manage is what erodes the margin you have left.

The fix, by name

FYN's Portfolio view and QuickBooks sync exist to make the controllable costs visible enough to control. A portfolio-level cost picture shows where maintenance, turns, and vendor spend are drifting across properties, and the QuickBooks sync keeps the books clean enough to act on — so as insurance eats a bigger share of revenue, you're defending margin on the lines you can actually move.

What it looks like in practice

Defend margin where you can actually move it

Insurance doubling since 2021 isn't a cost you can undo — it's a reason to get ruthless about the costs you can. FYN makes the controllable lines visible across the whole portfolio and keeps the books clean, so the runaway fixed cost doesn't quietly take the margin with it.