Home Insurance in Manhattan, Illinois
Homes in Manhattan carry a median value of $332,600 - close to the Will County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Manhattan was built around 2005. About 10% of homes were built before 1960, about 5 points below Will County's 15%.
The housing stock in Manhattan is 91% single-family homes, 5% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
About 78% of owner-occupied homes in Manhattan have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 2%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 88% of occupied homes in Manhattan are owner-occupied.
In Manhattan, 90% of homes are primarily heated with natural gas.
FEMA rates Will County's overall risk as Relatively High, led by tornado (Very High). Will County had 1,158 active NFIP flood policies as of September 2026. See the full Will 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 | $332,600 |
|---|---|
| Median year built | 2005 |
| Owner-occupied share | 88% |
| Share of owner-occupied homes with a mortgage | 78% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Will County | 1,158 |
| 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)