Home Insurance in Margate, Florida
Homes in Margate carry a median value of $316,200 - 24% lower than the Broward County median.
The typical home in Margate was built around 1978. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 4% of homes were built before 1960, about 6 points below Broward County's 11%.
In Margate, the housing stock is 53% single-family homes, 39% 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.
60% of owner-occupied homes in Margate carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 77% of occupied homes in Margate are owner-occupied.
Most homes in Margate - 92% - are primarily heated with electricity.
What's the biggest home insurance risk near Margate? FEMA's National Risk Index points to hurricane (Very High) in Broward County and Broward County had 227,930 active NFIP flood policies as of September 2026. See the full Broward County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Florida is $2,779 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $316,200 |
|---|---|
| Median year built | 1978 |
| Owner-occupied share | 77% |
| Share of owner-occupied homes with a mortgage | 60% |
| Top county hazard | Hurricane (Very High) |
| Active NFIP policies in Broward County | 227,930 |
| Home insurance premium | $2,779 - statewide average (NAIC, 2023 data) |
Nearby towns
- North Lauderdale
- Coconut Creek
- Coral Springs
- Tamarac
- Pompano Beach
- Lauderdale Lakes
- Parkland
- Sunrise
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)