Home Insurance in Norwood, Illinois
The median home value in Norwood is $97,000, 39% lower than the Peoria County median.
The typical home in Norwood was built around 1957. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 60% of homes were built before 1960, about 18 points above Peoria County's 42%.
In Norwood, the housing stock is 100% single-family homes.
About 51% of owner-occupied homes in Norwood have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 91% of occupied homes in Norwood are owner-occupied.
82% of homes in Norwood 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 | $97,000 |
|---|---|
| Median year built | 1957 |
| Owner-occupied share | 91% |
| Share of owner-occupied homes with a mortgage | 51% |
| 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)