Home Insurance in Oakwood, Illinois
The median home value in Oakwood is $103,000, 6% higher than the Vermilion County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Oakwood was built around 1974. About 22% of homes were built before 1960, about 31 points below Vermilion County's 53%.
In Oakwood, the housing stock is 60% single-family homes, 7% apartments in buildings with 5+ units and 28% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 40% of owner-occupied homes in Oakwood have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 78% of occupied homes in Oakwood are owner-occupied.
55% of homes in Oakwood are primarily heated with natural gas.
Vermilion County had 48 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is winter weather (Relatively High). See the full Vermilion County home insurance overview for all FEMA hazard ratings and flood coverage details.
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 | $103,000 |
|---|---|
| Median year built | 1974 |
| Owner-occupied share | 78% |
| Share of owner-occupied homes with a mortgage | 40% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in Vermilion County | 48 |
| 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)