Home Insurance in Buffalo Grove, Illinois
With a median home value of $412,300, Buffalo Grove is 19% higher than the Lake County median.
The typical home in Buffalo Grove was built around 1981. About 5% of homes were built before 1960, about 17 points below Lake County's 21%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Buffalo Grove, the housing stock is 67% single-family homes and 27% apartments in buildings with 5+ units.
About 64% of owner-occupied homes in Buffalo Grove have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 80% of occupied homes in Buffalo Grove are owner-occupied. The vacancy rate is 2%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Buffalo Grove - 88% - are primarily heated with natural gas.
FEMA rates Lake County's overall risk as Relatively High, led by tornado (Very High). Lake County had 2,078 active NFIP flood policies as of September 2026. See the full Lake 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 | $412,300 |
|---|---|
| Median year built | 1981 |
| Owner-occupied share | 80% |
| Share of owner-occupied homes with a mortgage | 64% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Lake County | 2,078 |
| 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)