OHA Market Update Series - March 6, 2025
National: Lowering your homeowners insurance costs helps you manage expenses while keeping your home protected. By shopping around, adjusting deductibles, bundling policies, or making home improvements, you can save money without sacrificing coverage.
Local: Austin has surpassed Nashville as the top U.S. rental market for remote workers, thanks to its affordable rents, strong job market, and tech-driven economy. The city’s combination of lower living costs and increasing homeownership opportunities make it an attractive option for remote professionals.
Intrigued? Keep reading. (4 minute read)
National Real Estate Update
Housing Trends, Interest Rates, and Market Forecasts
4 Simple Ways to Save on Homeowners Insurance
Homeowners insurance is a must-have, especially if you’re financing your home, but that doesn’t mean you have to overpay. The average annual cost for $300,000 in dwelling coverage is around $1,915—but there are ways to bring that number down while keeping solid protection in place. Here are four simple strategies to help lower your premium:
1️⃣ Shop Around – Not all insurance carriers price policies the same, so getting multiple quotes can help you find the best deal. An independent agent can also do the legwork for you and ensure you’re getting the right coverage without overpaying.
2️⃣ Increase Your Deductible – Opting for a higher deductible means you’ll pay more out of pocket if you file a claim, but it can significantly reduce your monthly premium. Just make sure it’s an amount you’re comfortable covering in an emergency.
3️⃣ Bundle Policies – Many insurance companies offer discounts when you bundle home, auto, or other policies. This can be a convenient way to save, but keep an eye on rate increases over time to make sure you’re still getting the best deal.
4️⃣ Make Home Improvements – Certain upgrades like a new roof, updated wiring, or storm-resistant windows can qualify you for lower insurance rates. Adding security systems or smart home devices may also help reduce costs—check with your provider to see what discounts apply.
At the end of the day, homeowners insurance isn’t one-size-fits-all. Start with your lender’s minimum requirements, then adjust coverage based on your needs and budget. And remember, you’re never locked into a policy—if you find a better deal later, you can switch and get a prorated refund on unused premiums.
OHA’s HOT TAKE:
Saving on homeowners insurance is important because it helps you manage one of the ongoing costs of homeownership without sacrificing protection. Your insurance policy isn’t just another bill—it’s a safeguard for your biggest investment, covering damage from fires, storms, or other unexpected events.
By taking the time to shop around, adjust your deductible, bundle policies, or make strategic home improvements, you can potentially save hundreds of dollars a year. Those savings add up over time and can be used toward home upgrades, mortgage payments, or other financial goals.
Plus, insurance rates aren’t fixed—providers adjust them based on factors like inflation, weather risks, and claims in your area. That’s why it’s smart to review your policy regularly and make sure you're getting the best deal possible.
At the end of the day, keeping your insurance costs in check while maintaining the right level of coverage gives you peace of mind and more control over your home expenses.
Let me know if you need any recommendations for insurance providers!
Austin Area Real Estate & Community Update:
Market Trends, Local News, and Neighborhood Insights
Austin Takes the Top Spot for Remote Workers
Austin has taken the top spot as the most attractive city for remote workers, pushing Nashville to second place, according to a new analysis from Capital Economics. The ranking considers factors like job opportunities, cost of living, and climate—where Austin, followed by Nashville and San Antonio, stood out.
A big reason? Housing affordability and rental market trends. Austin’s median rent has dropped nearly 5% year over year, making it one of the more affordable major cities for renters, while home prices remain competitive compared to other tech hubs. In contrast, Nashville renters spend around 40% of their income on housing, making it a pricier option for remote workers.
For those looking to buy, Austin offers more for-sale inventory than many other metro areas, giving remote workers more flexibility to transition from renting to homeownership. While the remote work trend has slowed since the pandemic, it’s still significant—23% of U.S. employees work remotely at least part-time, many in tech industries. With a strong housing market and lower rental costs, Austin continues to be a top choice for remote professionals looking for affordability and long-term stability.
OHA’s HOT TAKE:
This is important because housing affordability and flexibility are key factors for remote workers when choosing where to live. Austin's ranking as the top city for remote workers highlights its balance of rental affordability, homeownership opportunities, and a strong job market, making it an attractive place for professionals looking for stability.
With rents decreasing and home inventory increasing, Austin gives remote workers the chance to rent affordably while saving for a home purchase—something that’s becoming harder in other major cities. For those considering a move, this reinforces Austin as a smart long-term investment, whether renting or buying. Plus, as remote work remains prevalent, Austin’s tech-driven economy continues to support a growing workforce that values both career growth and affordability.
If you're thinking about making the move to Austin or need guidance navigating the local housing market, feel free to reach out! I can help you find the right property, whether you’re renting or ready to buy your next home.
Jennifer Carey
Realtor and Agent Success Manager at Open House Austin, real estate investor, and renovation enthusiast with Wimberley Airbnbs. She loves mid-century modern design, hiking Austin with her dogs, yoga, and exploring creative hobbies like painting, pottery, and piano. 🎶✨
