Home Insurance in Olympia Fields, Illinois
With a median home value of $329,000, Olympia Fields is close to the Cook County median.
The typical home in Olympia Fields was built around 1980. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 21% of homes were built before 1960, about 28 points below Cook County's 49%.
Housing in Olympia Fields breaks down to 91% single-family homes and 7% apartments in buildings with 5+ units.
In Olympia Fields, about 80% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Olympia Fields has an owner-occupancy rate of 89% and a vacancy rate of 11%; unoccupied homes typically need a different coverage form.
Most homes in Olympia Fields - 87% - are primarily heated with natural gas.
What's the biggest home insurance risk near Olympia Fields? 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.
The statewide average premium for a standard HO-3 homeowners policy in Illinois is $1,480 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $329,000 |
|---|---|
| Median year built | 1980 |
| Owner-occupied share | 89% |
| Share of owner-occupied homes with a mortgage | 80% |
| 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
- Flossmoor
- Park Forest
- Matteson
- Chicago Heights
- Country Club Hills
- South Chicago Heights
- Richton Park
- East Hazel Crest
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)