Home Insurance in Wallace, Idaho
The median home value in Wallace is $232,700, 13% lower than the Shoshone County median.
The median home in Wallace was built in 1939 or earlier. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 91% of homes were built before 1960, about 40 points above Shoshone County's 51%.
Housing in Wallace breaks down to 69% single-family homes and 15% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
46% of owner-occupied homes in Wallace carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 33%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 58% of occupied homes in Wallace are owner-occupied.
70% of homes in Wallace are primarily heated with natural gas.
Shoshone County had 408 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is inland flooding (Relatively Moderate). See the full Shoshone County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
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 | $232,700 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 58% |
| Share of owner-occupied homes with a mortgage | 46% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Shoshone County | 408 |
| 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)