Home Insurance in Rankin, Illinois
The median home value in Rankin is $56,900, 41% lower than the Vermilion County median.
The median home in Rankin was built in 1939 or earlier. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 63% of homes were built before 1960, about 10 points above Vermilion County's 53%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Rankin is 88% single-family homes and 11% mobile or manufactured homes.
In Rankin, about 47% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 18%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 69% of occupied homes in Rankin are owner-occupied.
In Rankin, 60% of homes are primarily heated with natural gas.
Vermilion County's top FEMA-rated hazard is winter weather (Relatively High), per FEMA's National Risk Index. Vermilion County had 48 active NFIP flood policies as of September 2026. See the full Vermilion 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 | $56,900 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 69% |
| Share of owner-occupied homes with a mortgage | 47% |
| 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)