Home Insurance in Bay, Arkansas
The median home value in Bay is $118,400, 44% lower than the Craighead County median.
The typical home in Bay was built around 1977. About 12% of homes were built before 1960, about 4 points above Craighead County's 8%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in Bay is 86% single-family homes, 1% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Bay, about 49% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 48% of occupied homes in Bay are owner-occupied. The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
73% of homes in Bay are primarily heated with natural gas.
What's the biggest home insurance risk near Bay? FEMA's National Risk Index points to earthquake (Relatively Moderate) in Craighead County and Craighead County had 905 active NFIP flood policies as of September 2026. See the full Craighead County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
In Arkansas, the statewide average premium for a standard HO-3 homeowners policy is $1,870 per year (NAIC, 2023 data).
Key figures
| Median home value | $118,400 |
|---|---|
| Median year built | 1977 |
| Owner-occupied share | 48% |
| Share of owner-occupied homes with a mortgage | 49% |
| Top county hazard | Earthquake (Relatively Moderate) |
| Active NFIP policies in Craighead County | 905 |
| Home insurance premium | $1,870 - 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)