Fort Worth is a great place to live, and steeped in history. Many people choose to make their home in Fort Worth for a few years, and as a result, they rent. There are 211,165 total housing units in Fort Worth. That’s quite a few renters! Texas Renters Insurance complements the town of Forth Worth which values educated professionals, with nearly ten percent of the population having a graduate or professional degree. New folks are always welcome, as evidenced by the fact that nearly 20% of the population of Fort Worth wasn’t born in Texas, or even in the US in many cases.
Renters Insurance In Forth Worth: How Many People Rent?
Fort Worth tends towards larger apartments, to accommodate their median household size of 2.67. With a home ownership rate of only 55.9%, we can work backwards to get a rental housing stock of just under 100,000 units. Larger apartments and garden apartments are common, but the competition to get into them can be very high with literally half the population renting at any given point in time.
Did you know that most renters don’t have Fort Worth renters insurance? In a town with a median household income (not per capita) of only $37,000 a year and a median rent of $950 monthly ($11,400 annually), the average family spends a full one third of their gross income on rent alone. That doesn’t account for utilities or any of the other costs of living, just the housing unit itself. You can see from the numbers that many people are stretched thin, nearly to the financial breaking point.
Do I Need Renters Insurance In Fort Worth?
Fort Worth renters insurance may seem like an expense that can easily be cut in budgets as tight as those noted above, but it deserves a second look. Families spending one third of their gross income on rent alone don’t have much room in their budget, and are statistically highly unlikely to have an emergency fund of any kind. What does this mean when there’s a loss?
Even people who aren’t stretched thin have difficulty replacing everything they own after a fire or theft. Even if you have the cash available to do it, there are more efficient places to put your money than into replacing everything you own. This is where Fort Worth renters insurance comes in.
By having Texas renters insurance, that loss isn’t coming out of your pocket. The loss is covered by the insurance company, and you don’t have to pay to replace your property. Fort Worth renters insurance is an excellent way to avoid risk for everyone from families living paycheck to paycheck all the way up to people who never have to think about money because they have enough of it. Whatever your situation might be, you don’t want to buy everything you own out of pocket.
Fort Worth renters insurance from Effective Coverage keeps your family and your finances safe, at a cost of just a few dollars a month. Contact Effective Coverage today at (800)892-4308 or click above for online renters insurance quotes in Texas.