Home Insurance in Iola, Illinois
The median home value in Iola is $65,000, 33% lower than the Clay County median.
The typical home in Iola was built around 1975. About 43% of homes were built before 1960, about 5 points above Clay County's 38%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
The housing stock in Iola is 51% single-family homes and 49% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
31% of owner-occupied homes in Iola carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 83% of occupied homes in Iola are owner-occupied. The vacancy rate is 18%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Iola, 43% of homes are primarily heated with propane. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Clay County's overall risk as Very Low, led by earthquake (Relatively Low). Clay County had 10 active NFIP flood policies as of September 2026. See the full Clay County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
In Illinois, the statewide average premium for a standard HO-3 homeowners policy is $1,480 per year (NAIC, 2023 data).
Key figures
| Median home value | $65,000 |
|---|---|
| Median year built | 1975 |
| Owner-occupied share | 83% |
| Share of owner-occupied homes with a mortgage | 31% |
| Top county hazard | Earthquake (Relatively Low) |
| Active NFIP policies in Clay County | 10 |
| Home insurance premium | $1,480 - 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)