Home Insurance in Penney Farms, Florida
Homes in Penney Farms carry a median value of $230,800 - 26% lower than the Clay 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 Penney Farms was built around 1954. About 66% of homes were built before 1960, about 62 points above Clay County's 4%.
The housing stock in Penney Farms is 51% single-family homes, 22% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 24% of owner-occupied homes in Penney Farms have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 15% of occupied homes in Penney Farms are owner-occupied.
Most homes in Penney Farms - 94% - are primarily heated with electricity.
Clay County had 4,148 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hurricane (Relatively Moderate). See the full Clay County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Florida carries a statewide average premium of $2,779 per year.
Key figures
| Median home value | $230,800 |
|---|---|
| Median year built | 1954 |
| Owner-occupied share | 15% |
| Share of owner-occupied homes with a mortgage | 24% |
| Top county hazard | Hurricane (Relatively Moderate) |
| Active NFIP policies in Clay County | 4,148 |
| Home insurance premium | $2,779 - 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)