Quote from @Cameron Moore: Exactly. 15 years ago, I noticed an increase in owners using insurance to pay for a replacement roof, usually to sweeten the pot during a sale.

Increased housing inventory as new developments hit the market.2.

California owners, should we increase our coverage, which should result in higher premiums?  

The land has slightly increased in value (by like maybe 3-4% over 3 or so years) but the value of the structure I'm pretty sure has gone nowhere. 

Your best option may be to increase the rent to cover the additional expense.

The shorter the prepayment term has an impact on increasing the rate.4.

Chicago is a lower appreciation market but with the trends we've been seeing with increased rates of hurricanes on the east coast and fires in the west, I do think long-term we will see some migration to the Midwest.

Quote from @Justin Brin: I created a heat map showing the population changes in each state over the past five years (2020–2024).The states experiencing the largest population increases are Florida, Texas, Utah, Arizona, and South Carolina.

(It could take 8 years to get to today’s market rent, if market rent didn’t increase $1 during those 8 years.  

I would slow down and think about your BUDGET, what you can get for $30k, and how you can increase your income.