Home Insurance in Lake Placid, Florida
The median home value in Lake Placid is $261,300, 39% higher than the Highlands County median.
The typical home in Lake Placid was built around 1985. About 13% of homes were built before 1960, about 6 points above Highlands County's 7%. 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 Lake Placid is 69% single-family homes, 19% apartments in buildings with 5+ units and 5% mobile or manufactured homes.
About 30% of owner-occupied homes in Lake Placid have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 57% of occupied homes in Lake Placid are owner-occupied.
95% of homes in Lake Placid are primarily heated with electricity.
FEMA rates Highlands County's overall risk as Relatively Moderate, led by strong wind (Very High). Highlands County had 984 active NFIP flood policies as of September 2026. See the full Highlands 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 | $261,300 |
|---|---|
| Median year built | 1985 |
| Owner-occupied share | 57% |
| Share of owner-occupied homes with a mortgage | 30% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Highlands County | 984 |
| 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)