Home Insurance in Wales, Alaska
With a median home value of $95,000, Wales is 55% lower than the Nome Census Area median.
The typical home in Wales was built around 1980. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 7% of homes were built before 1960, in line with Nome Census Area (7%).
In Wales, the housing stock is 94% single-family homes and 2% mobile or manufactured homes.
19% of owner-occupied homes in Wales carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Wales has an owner-occupancy rate of 69% and a vacancy rate of 28%; unoccupied homes typically need a different coverage form.
Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Wales - 90% - are primarily heated with fuel oil.
FEMA rates Nome Census Area's overall risk as Very Low, led by winter weather (Relatively High). Nome Census Area had 37 active NFIP flood policies as of September 2026. See the full Nome Census Area home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Alaska is $1,216 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $95,000 |
|---|---|
| Median year built | 1980 |
| Owner-occupied share | 69% |
| Share of owner-occupied homes with a mortgage | 19% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in Nome Census Area | 37 |
| 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)