Home Insurance in Elmwood, Illinois
With a median home value of $153,500, Elmwood is close to the Peoria County median.
The median home in Elmwood was built in 1939 or earlier. About 66% of homes were built before 1960, about 25 points above Peoria County's 42%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Housing in Elmwood breaks down to 82% single-family homes and 6% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Elmwood, about 61% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Elmwood has an owner-occupancy rate of 80% and a vacancy rate of 9%; unoccupied homes typically need a different coverage form.
In Elmwood, 81% of homes are primarily heated with natural gas.
Peoria County's top FEMA-rated hazard is tornado (Relatively High), per FEMA's National Risk Index. Peoria County had 363 active NFIP flood policies as of September 2026. See the full Peoria 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 | $153,500 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 80% |
| Share of owner-occupied homes with a mortgage | 61% |
| Top county hazard | Tornado (Relatively High) |
| Active NFIP policies in Peoria County | 363 |
| 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)