Security Deposit Interest by State
This tool is for information only. It is not legal, tax, or financial advice. Verify current law with the official sources cited before acting.
The short answer
Only six jurisdictions have a fixed or indexed 2026 interest number that can be computed from the statute alone: Connecticut (0.49%), Maryland (3.47%), Minnesota (1% simple), Ohio (5% on the excess only), Massachusetts (a 5% ceiling), and Illinois (a near-zero passbook rate for 25+ unit buildings). The other interest states tie the amount to the actual bank or account rate, two states limit the rule to mobile-home parks, two make it depend on how the landlord held the money, and Virginia's old rule was repealed in 2015. Use the security deposit interest calculator to compute your figure with the thresholds applied.
How to read the verification labels
- Official — the statute or agency text was opened and read on November 12, 2026.
- Quotation — the statute text was read only as quoted in a court opinion or statute-reproduction site. The wording is consistent across sources, but the official publisher's page was not opened.
- Secondary — the figure comes from a secondary summary or table. Unverified at the official-source standard; verify before acting.
- Conflict / unverified — the sources found disagree, or the figure is otherwise unconfirmed. No number is asserted.
Interest rules by category
Published counts of interest states disagree because each count uses a different definition. The categories below are the honest version. There is no bare headline count on this page.
(A) Statewide, nearly unconditional
| Jurisdiction | 2026 rate / rule | Thresholds | Statute | Verification |
|---|---|---|---|---|
| Connecticut | 0.49% for calendar year 2026 (annual deposit index) | Applied one calendar year at a time; the 2026 rate is never extended into 2027 | Conn. Gen. Stat. §§36a-26, 47a-21 | Official (rate) |
| Maryland | 3.47% for 2026 (Treasury 1-year yield on the first business day of the year, vs. a 1.5% floor — the greater applies) | Simple interest, monthly accrual; at least 6 months held; deposit at least $50; no interest for partial months | Md. Code, Real Prop. §8-203(e) | Official |
| Minnesota | 1% per year, simple, noncompounded | Interest under $1 excluded; computed from the first day of the month after full payment; no minimum holding period | Minn. Stat. §504B.178 | Official |
| Massachusetts | 5% per year OR the lesser amount actually received from the bank (a ceiling, not a guaranteed rate) | Deposit held at least 1 year from the first day of tenancy; payable at the end of each year | Mass. Gen. Laws c.186 §15B(3)(b) | Official |
(B) Statewide, conditional or threshold
| Jurisdiction | Rate / how set | Thresholds | Statute | Verification |
|---|---|---|---|---|
| Illinois | 0.005% rate / 0.01% APY as of December 31, 2025 (largest-bank passbook rate) | 25 or more units; deposits held more than 6 months | 765 ILCS 715/1 | Official (rate) |
| New Jersey | Actual earnings; no fixed rate (7% is a penalty/default remedy, not the rate) | 10+ units: insured NJ money-market/variable-rate account; fewer than 10 units: interest-bearing time/savings account at a NJ insured institution | N.J.S.A. 46:8-19–26 | Official (DCA bulletin) |
| New York | Actual earnings at the prevailing local rate, minus 1% per year landlord administrative retention; no fixed percentage | 6 or more units only; if the account earns under 1%, the tenant may net $0 | N.Y. Gen. Oblig. Law §7-103 | Quotation |
| New Hampshire | Bank regular-savings rate at the NH institution where deposited; no fixed number | At least 1 year; mingled accounts pay actual interest proportionately | RSA 540-A:6(IV)(a) | Official (interest rule) |
| North Dakota | Actual earnings from a federally insured interest-bearing account; no statutory rate | At least 9 months of occupancy | N.D. Cent. Code §47-16-07.1 | Official (interest rule) |
| Pennsylvania | Actual earnings from an interest-bearing escrow account at a regulated institution; landlord may retain a 1% administrative fee; no fixed rate | Deposit over $100; at least 2 years; paid annually from the 3rd year | 68 P.S. §§250.511b, 250.512 | Secondary |
| District of Columbia | Statement savings rate prevailing January 1 and July 1, per 6-month period; interest-bearing escrow | At least 12 months | D.C. Code §42-3502.17; 14 DCMR §§308–311 | Secondary |
| New Mexico | Passbook rate formerly permitted by the Federal Home Loan Bank Board; no 2026 numeric rate found | Annual (1-year or longer) agreements where the deposit exceeds 1 month's rent | NMSA §47-8-18 | Quotation |
| Ohio | 5% per year on the EXCESS only | Excess over the greater of $50 or one month's rent; tenant remains at least 6 months; computed and paid annually | Ohio Rev. Code §5321.16 | Official |
(C) Mobile-home park only
| Jurisdiction | Rate / how set | Scope | Statute | Verification |
|---|---|---|---|---|
| Arizona | At least 5% annual, paid annually or compounded annually | Mobile-home parks only; standard residential tenancies owe no interest | A.R.S. §33-1431(B) | Official |
| Maine | Amount earned if a segregated savings account is used, or reasonable annual interest tied to the Federal Reserve secondary-market 6-month CD rate; the old flat 4% was removed in 2009 | Mobile-home parks only; standard residential tenancies owe no interest | 10 MRSA §9098(2)(B)(4) | Official |
(D) Dependent on the holding method
| Jurisdiction | Rule | Statute | Verification |
|---|---|---|---|
| Florida | Method 1 (separate non-interest-bearing account): $0. Method 2 (separate interest-bearing account): at least 75% of the annualized average rate OR 5% simple, at the landlord's choice. Method 3 (surety bond): 5% simple. Paid or credited at least annually where owed. | Fla. Stat. §83.49 | Quotation (official fetch failed in research) |
| Iowa | An interest-bearing account is optional. The landlord keeps the first 5 years' interest; the tenant accrues interest only after 5 years, and only if an interest-bearing account was used. | Iowa Code §562A.12(2) | Quotation (secondary quotation) |
(E) Local ordinance only (no statewide rule)
| Place | Rule | Verification |
|---|---|---|
| California — San Francisco, Los Angeles, Berkeley | City ordinances require interest. No city rate is published on this page: a Berkeley December 2026 figure of 0.6% appears only in secondary sources and is unverified. | Secondary (ordinances); rates unverified |
| Illinois — Chicago | Chicago's Residential Landlord and Tenant Ordinance requires interest from all Chicago landlords, separate from the statewide 25-unit rule. The 2026 Chicago rate of 0.01% appears only in secondary sources and is unverified. | Secondary; rate unverified |
(F) No statewide requirement
All remaining states, for standard residential tenancies: Alabama, Alaska, Arkansas, Colorado, Delaware, Georgia, Hawaii, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. Caveat: the "no interest" classification for these states rests on the absence of a rule in the secondary tables; no official statute text was read for the no-interest states, and a local ordinance could still apply. Virginia is expressly no: its pre-2014 rule was repealed, and beginning in January 2015 there is no interest to be paid on security deposits in Virginia.
Return deadlines by state
Nine deadlines below were read in official statute text: Maryland, Massachusetts, Minnesota, Ohio, Utah, Connecticut, South Dakota, Louisiana, and North Dakota. Kentucky's statute was also read in official text and states no fixed return deadline, so no day count is printed for Kentucky. The rest come from two secondary tables that agree in most rows and are labeled as secondary or quotation-level. Tennessee's deadline is unverified at the official-source standard and carries no day count. If a deadline has passed, the demand letter generator can draft a statute-cited letter.
| State | Return deadline | Statute | Verification |
|---|---|---|---|
| Alabama | 60 days | Ala. Code §35-9A-201 | Secondary |
| Alaska | 14 days (30 days if no proper notice) | Alaska Stat. §34.03.070 | Secondary |
| Arizona | 14 days, excluding Saturdays, Sundays, and holidays | A.R.S. §33-1321 | Secondary |
| Arkansas | 60 days — marked "verify" by the secondary source | Ark. Code §18-16-101 et seq. | Secondary — flagged for verification |
| California | 21 calendar days after the tenant vacates | Cal. Civ. Code §1950.5 | Quotation |
| Colorado | 30 days (lease may extend to 60 days); HB 25-1249 from January 1, 2026 | C.R.S. §38-12-103 | Quotation |
| Connecticut | 21 days after termination of the tenancy or 15 days after receiving written notification of the tenant's forwarding address, whichever is later | Conn. Gen. Stat. §47a-21(d)(2) | Official |
| Delaware | 20 days | 25 Del. C. §5514 | Secondary |
| District of Columbia | 45 days to return or give written withholding notice; balance within 30 days after the notice | D.C. Code §42-3502.17; 14 DCMR §§308–311 | Secondary |
| Florida | 15 days if no claim; 30 days to send a certified-mail claim notice | Fla. Stat. §83.49 | Quotation |
| Georgia | 30 days | Ga. Code §44-7-34 | Secondary |
| Hawaii | 14 days | Haw. Rev. Stat. §521-44 | Secondary |
| Idaho | 21 days (up to 30 days if the lease says so) | Idaho Code §6-321 | Quotation |
| Illinois | 30-day itemized statement / 45-day return | 765 ILCS 710 | Secondary |
| Indiana | 45 days | Ind. Code §32-31-3-12 | Secondary |
| Iowa | 30 days after the tenancy ends and a mailing address is provided | Iowa Code §562A.12 | Quotation |
| Kansas | 30 days maximum (within 14 days after deductions are determined) | Kan. Stat. §58-2550 | Secondary |
| Kentucky | No fixed return deadline — the statute states no day count; applies only where the local government adopted the URLTA | KRS 383.580; KRS 383.500 | Official (no deadline stated) |
| Louisiana | Within one month after the lease terminates; itemized statement within one month after the tenancy terminates or within 15 days after the date that is one month after the tenancy terminates | La. Rev. Stat. §9:3251(A), as amended by Acts 2026, No. 63 | Official |
| Maine | 21 days for at-will tenancies; lease time up to 30 days | 14 MRSA §§6032–6038 | Secondary |
| Maryland | 45 days | Md. Code, Real Prop. §8-203(e) | Official |
| Massachusetts | 30 days after termination of occupancy / end of tenancy | Mass. Gen. Laws c.186 §15B(4) | Official |
| Michigan | 30 days | Mich. Comp. Laws §554.609 | Secondary |
| Minnesota | 3 weeks (21 days) after termination AND receipt of a mailing address or delivery instructions (5 days for condemnation) | Minn. Stat. §504B.178 | Official |
| Mississippi | 45 days | Miss. Code §89-8-21 | Secondary |
| Missouri | 30 days | Mo. Rev. Stat. §535.300 | Secondary |
| Montana | 10 days if nothing is owed / 30 days otherwise | Mont. Code §70-25-201 | Secondary |
| Nebraska | 14 days | Neb. Rev. Stat. §76-1416 | Secondary |
| Nevada | 30 days | Nev. Rev. Stat. §118A.242 | Secondary |
| New Hampshire | 30 days | RSA 540-A:7 | Secondary |
| New Jersey | 30 days | N.J.S.A. 46:8-21.1 | Quotation |
| New Mexico | 30 days | NMSA §47-8-18 | Quotation |
| New York | 14 days | N.Y. Gen. Oblig. Law §7-108 | Quotation |
| North Carolina | 30 days (up to 60 days with an interim accounting by day 30) | N.C.G.S. §42-52 | Secondary |
| North Dakota | 30 days after termination of the lease and delivery of possession (itemization and amount due delivered or mailed) | N.D. Cent. Code §47-16-07.1(3) | Official |
| Ohio | 30 days after termination and delivery of possession | Ohio Rev. Code §5321.16(B) | Official |
| Oklahoma | 45 days | Okla. Stat. tit. 41, §115 | Secondary |
| Oregon | 31 days | Or. Rev. Stat. §90.300 | Secondary |
| Pennsylvania | 30 days | 68 P.S. §§250.511b, 250.512 | Secondary |
| Rhode Island | 20 days | R.I. Gen. Laws §34-18-19 | Secondary |
| South Carolina | 30 days | S.C. Code §27-40-410 | Secondary |
| South Dakota | 21 days after termination of the tenancy and receipt of the tenant's mailing address or delivery instructions | S.D. Codified Laws §43-32-24, as amended by 2026 Senate Bill 4 | Official |
| Tennessee | No single statutory deadline — the section as reproduced states no fixed day count, so no day count is printed | Tenn. Code §66-28-301 | Unverified at official standard |
| Texas | On or before the 30th day after surrender; the duty arises only after a written forwarding address | Tex. Prop. Code §§92.103, 92.107 | Quotation |
| Utah | 30 days after the renter vacates and returns possession | Utah Code §57-17-3 | Official |
| Vermont | 14 days (60 days for seasonal non-primary residences) | 9 V.S.A. §4461 | Secondary |
| Virginia | 45 days | Va. Code §55.1-1226 | Secondary |
| Washington | 30 days (was 21 days before 2023) | Wash. Rev. Code §59.18.280 | Secondary |
| West Virginia | 60 days, or 45 days after a new tenant, whichever is sooner | W. Va. Code §37-6A-1 et seq. | Secondary |
| Wisconsin | 21 days (with re-rental and early-move variants) | Wis. Stat. §704.28(4); ATCP 134.06(2) | Secondary |
| Wyoming | 30 days, or 15 days after a new address, whichever is later (30 more days if there is damage) | Wyo. Stat. §1-21-1208 | Secondary |
Deadline verification notes
Five deadlines that were previously listed as conflicting were re-checked against official statute text on November 12, 2026. Connecticut: the official text of section 47a-21(d)(2) sets 21 days after termination or 15 days after receiving written notification of the forwarding address, whichever is later; Public Act 23-207 reduced the period from 30 days to 21 days, and an account claiming 15 business days is wrong. Kentucky: the official text of KRS 383.580 states no fixed return deadline — the 30-day figure in subsection (6) and the 60-day figure in subsection (7) govern different situations — and KRS 383.500 limits the deposit rules to local governments that adopted the URLTA. South Dakota: 2026 Senate Bill 4 changed the period in section 43-32-24 from two weeks to 21 days. Louisiana: section 9:3251(A) requires return within one month after the lease terminates, and Act 63 of 2026 added a 15-day extension for the itemized statement only. North Dakota: section 47-16-07.1(3) sets the 30-day itemization and return rule. Tennessee remains unverified at the official-source standard: the section as reproduced states no fixed day count, the 60-day and 30-day figures in subsections (f) and (g) are not return deadlines, and the Act applies only in counties over 75,000 population — verify the current official text before acting.
Figures this page deliberately does not use
Three figures seen on other websites are contradicted or invented and never appear as rates on this site: a Minnesota "3%" rule (contradicted by the official statute text), a New York "2.5%" rate (no fixed statutory rate exists — New York uses actual earnings minus 1%), and a New Jersey "2%" rate (no fixed statutory rate exists — New Jersey uses actual earnings). Compound interest is never used: Minnesota and Maryland require simple interest expressly.
Frequently asked questions
How many states require landlords to pay interest on security deposits?
There is no single defensible count. Published counts range from 10 to 17 states plus the District of Columbia because each uses a different definition: some include Virginia, whose rule was repealed in 2015; some count mobile-home-only rules as statewide requirements; some count conditional rules and some do not. This page uses categories instead of a bare count: statewide and nearly unconditional; statewide but conditional on thresholds; mobile-home park only; dependent on the holding method; local ordinance only; and no statewide requirement.
Which states have a fixed 2026 security deposit interest rate?
Six jurisdictions have a computable 2026 number without user-supplied bank data: Connecticut at 0.49% for calendar year 2026 (an annual index), Maryland at 3.47% for 2026 (simple interest, monthly accrual, at least 6 months and at least $50), Minnesota at a fixed 1% simple and noncompounded, Ohio at 5% on the excess over the greater of $50 or one month's rent (at least 6 months), Massachusetts at a 5% ceiling or the lesser actual bank rate (at least 1 year), and Illinois at a 0.005% rate for buildings with 25 or more units held more than 6 months. Every other interest jurisdiction requires the actual account or bank rate.
What is the deadline for a landlord to return a security deposit?
It varies by state, from 14 days to 60 days, and the clock trigger varies too: some clocks run from the end of the tenancy, some from surrender of the premises, and some only after the tenant gives a written forwarding address. Nine deadlines on this page were read in official statute text (Massachusetts, Minnesota, Maryland, Ohio, Utah, Connecticut, South Dakota, Louisiana, and North Dakota); Kentucky's statute was read in official text and states no fixed return deadline. Most others come from secondary tables and are labeled as such. Tennessee's deadline is unverified at the official-source standard: the section as reproduced states no fixed day count, so no day count is printed for Tennessee.
Why do some states say the rate is the actual bank rate?
Because the statute defines the interest by what the account actually earned, and no statute publishes that number. New Jersey, New York, New Hampshire, North Dakota, Pennsylvania, the District of Columbia, and New Mexico all tie the interest to the actual account, bank, passbook, or savings rate. A fixed percentage shown for those states on another website is invented. The calculator on this site asks you to enter the actual rate from the landlord's statement or the bank, and then applies the statutory thresholds and any allowed administrative retention.
Does Virginia require interest on security deposits?
No. Virginia's old interest rule was repealed, and beginning in January 2015 there is no interest to be paid on security deposits in Virginia. Stale charts that still list Virginia are wrong. The current statute, Virginia Code section 55.1-1226, has no interest requirement.
Can a city require deposit interest even if the state does not?
Yes. California has no statewide interest rule, but San Francisco, Los Angeles, and Berkeley have local ordinances that require interest. Chicago's Residential Landlord and Tenant Ordinance requires interest from all Chicago landlords, separate from the statewide Illinois rule that applies only to buildings with 25 or more units. City ordinance rates were not verified officially in the research for this page, so no city figure is published here; check the city ordinance for the property's address.
Related tools
- Security deposit interest calculator — compute the interest owed with thresholds applied.
- Security deposit demand letter generator — draft a statute-cited letter if the deposit was not returned.
- Rent increase checker — check whether a rent increase follows the rules for your state.
- Probate fee calculator — estimate probate fees by state.
- IRMAA Roth conversion sizer — size a Roth conversion against Medicare premium thresholds.
- Nanny tax calculator — estimate household employment taxes.
Sources
Every figure on this page comes from one of the sources below. "Official" means the statute or agency text was read; "quotation" means the statute text was read as quoted in a court opinion or statute-reproduction site; "secondary" means a summary table. All accessed November 12, 2026.
- Connecticut 2026 deposit index, 0.49% — Connecticut Department of Banking announcement: portal.ct.gov/dob/newsroom/2025/banking-commissioner-announces-2026-deposit-index (official; accessed November 12, 2026)
- Connecticut rental security deposits — Connecticut Department of Banking: portal.ct.gov/dob/rental-security-deposits (official; accessed November 12, 2026)
- Connecticut General Statutes §47a-21 (2024 Supplement, Chapter 831) — Connecticut General Assembly: cga.ct.gov/2024/sup/chap_831.htm (official; accessed November 12, 2026)
- Maryland Real Property Code §8-203 — Maryland General Assembly statute text (PDF): mgaleg.maryland.gov/2026RS/Statute_Web/grp/8-203.pdf (official; accessed November 12, 2026)
- U.S. daily Treasury par yield curve rates — U.S. Department of the Treasury: home.treasury.gov daily Treasury yield curve (official; accessed November 12, 2026)
- Maryland renter and landlord resources — Maryland Department of Housing and Community Development: dhcd.maryland.gov/housing/renter-landlord-resources (official; accessed November 12, 2026)
- Minnesota Statutes §504B.178 — Minnesota Office of the Revisor of Statutes: revisor.mn.gov/statutes/cite/504b.178 (official; accessed November 12, 2026)
- Ohio Revised Code §5321.16 — Ohio Laws: codes.ohio.gov/ohio-revised-code/section-5321.16 (official; accessed November 12, 2026)
- Massachusetts General Laws c.186 §15B — Mass.gov: mass.gov/info-details/mass-general-laws-c186-ss-15b (official; accessed November 12, 2026)
- Illinois 2026 security deposit interest rate notice — Illinois Department of Financial and Professional Regulation (PDF): idfpr.illinois.gov 2026 interest rates announcement (official; accessed November 12, 2026)
- New Jersey security deposit bulletin — New Jersey Department of Community Affairs (PDF): nj.gov/dca security deposit bulletin (official; accessed November 12, 2026)
- New Hampshire RSA 540-A — New Hampshire General Court: gc.nh.gov/rsa/html/LV/540-A/540-A-mrg.htm (official; accessed November 12, 2026)
- North Dakota Century Code Title 47, Chapter 16 — North Dakota Legislative Branch (PDF): ndlegis.gov/api/cencode/t47c16.pdf (official; accessed November 12, 2026)
- Kentucky Revised Statutes §383.580 (security deposits) — Kentucky Legislature: apps.legislature.ky.gov KRS 383.580 (official; accessed November 12, 2026)
- Kentucky Revised Statutes §383.500 (local adoption of the URLTA) — Kentucky Legislature: apps.legislature.ky.gov KRS 383.500 (official; accessed November 12, 2026)
- Arizona Revised Statutes §33-1431 — Arizona Legislature: azleg.gov ARS 33-1431 (official; accessed November 12, 2026)
- Maine Revised Statutes Title 10, §9098 — Maine Legislature (PDF): mainelegislature.org Title 10 section 9098 (official; accessed November 12, 2026)
- Virginia security deposit information — Arlington County, Virginia (PDF): arlingtonva.us security deposit guide (government; accessed November 12, 2026)
- Utah Code Title 57, Chapter 17 — Utah Legislature (PDF): le.utah.gov Title 57 Chapter 17 (official; accessed November 12, 2026)
- South Dakota 2026 Senate Bill 4, Chapter 179 (session law amending §43-32-24) — South Dakota Legislature (PDF): mylrc.sdlegislature.gov 2026 Senate Bill 4 (official; accessed November 12, 2026)
- Louisiana Revised Statutes §9:3251 — Louisiana State Legislature: legis.la.gov R.S. 9:3251 (official; accessed November 12, 2026)
- Louisiana Act No. 63 of 2026 (House Bill 292, enrolled) — Louisiana State Legislature: legis.la.gov Act No. 63 (official; accessed November 12, 2026)
- Tennessee Code §66-28-301 — FindLaw: codes.findlaw.com TN Code 66-28-301 (quotation — official Tennessee Code text not retrieved; accessed November 12, 2026)
- New York General Obligations Law §7-103 — FindLaw: codes.findlaw.com NY GOB 7-103 (quotation; accessed November 12, 2026)
- New York General Obligations Law §7-108 — Public.Law: newyork.public.law GOB 7-108 (quotation; accessed November 12, 2026)
- New Mexico Statutes §47-8-18 — Justia: law.justia.com NM 47-8-18 (quotation; accessed November 12, 2026)
- California Civil Code §1950.5 — Justia: law.justia.com CA Civil Code 1950.5 (quotation; accessed November 12, 2026)
- Texas Property Code §§92.103, 92.107, 92.109 — statute quotation: sue.com Texas Property Code 92.103 in practice (quotation; accessed November 12, 2026)
- Security deposit return deadlines by state — DoorWorth: doorworth.app security deposit deadlines (secondary; reviewed October 28, 2026; accessed November 12, 2026)
- Security deposit laws by state — HonestKey: honestkey.com security deposit laws by state (secondary; updated July 2, 2026; accessed November 12, 2026)
Rates and rules verified November 12, 2026 from official sources. Connecticut, Kentucky, South Dakota, Louisiana, and North Dakota deposit rules were re-checked against official statute text on November 12, 2026; Tennessee's section could not be retrieved from an official publisher and remains unverified at that standard. Indexed rates (Connecticut, Maryland, Illinois) are re-published each year; this page shows the 2026 figures only.