Home Insurance in Downey, Idaho
With a median home value of $173,800, Downey is 42% lower than the Bannock County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Downey was built around 1945. About 68% of homes were built before 1960, about 40 points above Bannock County's 28%.
In Downey, the housing stock is 90% single-family homes, 4% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
About 53% of owner-occupied homes in Downey have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 85% of occupied homes in Downey are owner-occupied. The vacancy rate is 10%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane, fuel oil and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Downey, 44% of homes are primarily heated with propane.
FEMA rates Bannock County's overall risk as Relatively Low, led by wildfire (Relatively Moderate). Bannock County had 96 active NFIP flood policies as of September 2026. See the full Bannock County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Idaho, the statewide average premium for a standard HO-3 homeowners policy is $1,135 per year (NAIC, 2023 data).
Key figures
| Median home value | $173,800 |
|---|---|
| Median year built | 1945 |
| Owner-occupied share | 85% |
| Share of owner-occupied homes with a mortgage | 53% |
| Top county hazard | Wildfire (Relatively Moderate) |
| Active NFIP policies in Bannock County | 96 |
| Home insurance premium | $1,135 - 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)