Home Insurance in Mount Carmel, Indiana
With a median home value of $131,300, Mount Carmel is 47% lower than the Franklin County median.
The median home in Mount Carmel was built in 1939 or earlier. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 60% of homes were built before 1960, about 35 points above Franklin County's 25%.
In Mount Carmel, the housing stock is 80% single-family homes and 20% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
37% of owner-occupied homes in Mount Carmel carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 63% of occupied homes in Mount Carmel are owner-occupied.
In Mount Carmel, 47% of homes are primarily heated with electricity. Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Franklin County had 33 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is tornado (Relatively Low). See the full Franklin 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 Indiana is $1,259 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $131,300 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 63% |
| Share of owner-occupied homes with a mortgage | 37% |
| Top county hazard | Tornado (Relatively Low) |
| Active NFIP policies in Franklin County | 33 |
| Home insurance premium | $1,259 - 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)