Home Insurance in Salem, Illinois
The median home value in Salem is $106,100, close to the Marion County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Salem was built around 1969. About 39% of homes were built before 1960, about 6 points above Marion County's 33%.
The housing stock in Salem is 74% single-family homes, 8% apartments in buildings with 5+ units and 7% 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.
60% of owner-occupied homes in Salem carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 65% of occupied homes in Salem are owner-occupied.
In Salem, 68% of homes are primarily heated with natural gas.
Marion County's top FEMA-rated hazard is earthquake (Relatively Moderate), per FEMA's National Risk Index. Marion County had 25 active NFIP flood policies as of September 2026. See the full Marion County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
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 | $106,100 |
|---|---|
| Median year built | 1969 |
| Owner-occupied share | 65% |
| Share of owner-occupied homes with a mortgage | 60% |
| Top county hazard | Earthquake (Relatively Moderate) |
| Active NFIP policies in Marion County | 25 |
| 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)