Home Insurance in Falkville, Alabama
Homes in Falkville carry a median value of $139,600 - 34% lower than the Morgan County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Falkville was built around 1968. About 34% of homes were built before 1960, about 21 points above Morgan County's 14%.
The housing stock in Falkville is 86% single-family homes, 1% apartments in buildings with 5+ units and 6% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 42% of owner-occupied homes in Falkville have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 79% of occupied homes in Falkville are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 71% of homes in Falkville are primarily heated with electricity.
What's the biggest home insurance risk near Falkville? FEMA's National Risk Index points to tornado (Relatively High) in Morgan County and Morgan County had 495 active NFIP flood policies as of September 2026. See the full Morgan County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Alabama, the statewide average premium for a standard HO-3 homeowners policy is $1,906 per year (NAIC, 2023 data).
Key figures
| Median home value | $139,600 |
|---|---|
| Median year built | 1968 |
| Owner-occupied share | 79% |
| Share of owner-occupied homes with a mortgage | 42% |
| Top county hazard | Tornado (Relatively High) |
| Active NFIP policies in Morgan County | 495 |
| Home insurance premium | $1,906 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)