Home Insurance in Caraway, Arkansas
The median home value in Caraway is $85,900, 59% lower than the Craighead County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Caraway was built around 1976. About 20% of homes were built before 1960, about 12 points above Craighead County's 8%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Caraway is 72% single-family homes and 12% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Caraway, about 39% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 66% of occupied homes in Caraway are owner-occupied. The vacancy rate is 10%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
63% of homes in Caraway are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near Caraway? 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.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Arkansas carries a statewide average premium of $1,870 per year.
Key figures
| Median home value | $85,900 |
|---|---|
| Median year built | 1976 |
| Owner-occupied share | 66% |
| Share of owner-occupied homes with a mortgage | 39% |
| 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)