Home Insurance in Phoenix, Illinois
With a median home value of $96,200, Phoenix is 70% lower than the Cook County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Phoenix was built around 1965. About 41% of homes were built before 1960, about 8 points below Cook County's 49%.
Housing in Phoenix breaks down to 81% single-family homes and 9% apartments in buildings with 5+ units.
In Phoenix, about 40% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 66% of occupied homes in Phoenix are owner-occupied.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 86% of homes in Phoenix are primarily heated with natural gas.
What's the biggest home insurance risk near Phoenix? 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.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Illinois carries a statewide average premium of $1,480 per year.
Key figures
| Median home value | $96,200 |
|---|---|
| Median year built | 1965 |
| Owner-occupied share | 66% |
| Share of owner-occupied homes with a mortgage | 40% |
| 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)