Home Insurance in Palmer, Alaska
Homes in Palmer carry a median value of $294,900 - 15% lower than the Matanuska-Susitna Borough median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Palmer was built around 1990. About 11% of homes were built before 1960, about 8 points above Matanuska-Susitna Borough's 3%.
Housing in Palmer breaks down to 69% single-family homes, 23% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
In Palmer, about 70% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 63% of occupied homes in Palmer are owner-occupied. The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Palmer - 79% - are primarily heated with natural gas.
Matanuska-Susitna Borough had 215 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is earthquake (Relatively High). See the full Matanuska-Susitna Borough home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Alaska carries a statewide average premium of $1,216 per year.
Key figures
| Median home value | $294,900 |
|---|---|
| Median year built | 1990 |
| Owner-occupied share | 63% |
| Share of owner-occupied homes with a mortgage | 70% |
| Top county hazard | Earthquake (Relatively High) |
| Active NFIP policies in Matanuska-Susitna Borough | 215 |
| Home insurance premium | $1,216 - 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)