Home Insurance in Paw Paw, Illinois
The median home value in Paw Paw is $153,900, close to the Lee County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Paw Paw was built around 1962. About 45% of homes were built before 1960, about 4 points below Lee County's 50%.
In Paw Paw, the housing stock is 84% single-family homes and 12% apartments in buildings with 5+ units.
In Paw Paw, about 62% 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 76% of occupied homes in Paw Paw are owner-occupied.
Most homes in Paw Paw - 76% - are primarily heated with natural gas.
Lee County had 104 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively High). See the full Lee 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 | $153,900 |
|---|---|
| Median year built | 1962 |
| Owner-occupied share | 76% |
| Share of owner-occupied homes with a mortgage | 62% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Lee County | 104 |
| 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)