Home Insurance in Palmyra, Illinois
The median home value in Palmyra is $87,500, 37% lower than the Macoupin County median.
The typical home in Palmyra was built around 1969. About 34% of homes were built before 1960, about 11 points below Macoupin County's 45%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Palmyra, the housing stock is 60% single-family homes, 1% apartments in buildings with 5+ units and 28% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 33% of owner-occupied homes in Palmyra have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 31%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 79% of occupied homes in Palmyra are owner-occupied.
78% of homes in Palmyra are primarily heated with natural gas.
What's the biggest home insurance risk near Palmyra? FEMA's National Risk Index points to earthquake (Relatively Moderate) in Macoupin County and Macoupin County had 12 active NFIP flood policies as of September 2026. See the full Macoupin County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
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 | $87,500 |
|---|---|
| Median year built | 1969 |
| Owner-occupied share | 79% |
| Share of owner-occupied homes with a mortgage | 33% |
| Top county hazard | Earthquake (Relatively Moderate) |
| Active NFIP policies in Macoupin County | 12 |
| 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)