Home Insurance in University Park, Illinois
The median home value in University Park is $153,200, 52% lower than 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 University Park was built around 1976. About 13% of homes were built before 1960, about 3 points below Will County's 15%.
The housing stock in University Park is 70% single-family homes, 10% apartments in buildings with 5+ units and 4% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
59% of owner-occupied homes in University Park carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
University Park has an owner-occupancy rate of 64% and a vacancy rate of 10%; unoccupied homes typically need a different coverage form.
Most homes in University Park - 90% - are primarily heated with natural gas.
What's the biggest home insurance risk near University Park? FEMA's National Risk Index points to tornado (Very High) in Will County and 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.
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 | $153,200 |
|---|---|
| Median year built | 1976 |
| Owner-occupied share | 64% |
| Share of owner-occupied homes with a mortgage | 59% |
| 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)