Home Insurance in Carrabelle, Florida
With a median home value of $217,900, Carrabelle is 20% lower than the Franklin County median.
The typical home in Carrabelle was built around 1992. About 16% of homes were built before 1960, about 2 points below Franklin County's 18%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Carrabelle is 58% single-family homes, 15% apartments in buildings with 5+ units and 20% mobile or manufactured homes.
28% of owner-occupied homes in Carrabelle carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 67% of occupied homes in Carrabelle are owner-occupied. The vacancy rate is 49%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Carrabelle, 90% of homes are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Franklin County's overall risk as Relatively Low, led by hurricane (Relatively Moderate). Franklin County had 2,234 active NFIP flood policies as of September 2026. See the full Franklin 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 | $217,900 |
|---|---|
| Median year built | 1992 |
| Owner-occupied share | 67% |
| Share of owner-occupied homes with a mortgage | 28% |
| Top county hazard | Hurricane (Relatively Moderate) |
| Active NFIP policies in Franklin County | 2,234 |
| 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)