Home Insurance in Chicago, Illinois
The median home value in Chicago is $334,100, close to the Cook County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Chicago was built around 1953. About 58% of homes were built before 1960, about 9 points above Cook County's 49%.
The housing stock in Chicago is 29% single-family homes and 43% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Chicago, about 65% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Chicago has an owner-occupancy rate of 46% and a vacancy rate of 9%; unoccupied homes typically need a different coverage form.
Most homes in Chicago - 78% - are primarily heated with natural gas.
What's the biggest home insurance risk near Chicago? FEMA's National Risk Index points to winter weather (Very High) in Cook County and Cook County had 11,554 active NFIP flood policies as of September 2026. See the full Cook County home insurance overview for all FEMA hazard ratings and flood coverage details.
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 | $334,100 |
|---|---|
| Median year built | 1953 |
| Owner-occupied share | 46% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Cook County | 11,554 |
| 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)