Home Insurance in North Bay Village, Florida
The median home value in North Bay Village is $464,200, close to the Miami-Dade County median.
The typical home in North Bay Village was built around 1985. About 15% of homes were built before 1960, about 6 points below Miami-Dade County's 21%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In North Bay Village, the housing stock is 7% single-family homes and 91% apartments in buildings with 5+ units.
57% of owner-occupied homes in North Bay Village carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 42% of occupied homes in North Bay Village are owner-occupied. The vacancy rate is 21%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In North Bay Village, 89% of homes are primarily heated with electricity.
Miami-Dade County had 355,123 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hurricane (Very High). See the full Miami-Dade 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 | $464,200 |
|---|---|
| Median year built | 1985 |
| Owner-occupied share | 42% |
| Share of owner-occupied homes with a mortgage | 57% |
| Top county hazard | Hurricane (Very High) |
| Active NFIP policies in Miami-Dade County | 355,123 |
| Home insurance premium | $2,779 - statewide average (NAIC, 2023 data) |
Nearby towns
- Miami Shores
- Indian Creek
- Surfside
- Miami Beach
- El Portal
- Bay Harbor Islands
- Biscayne Park
- Bal Harbour
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)