Home Insurance in Milan, Indiana
With a median home value of $157,400, Milan is 29% lower than the Ripley County median.
The typical home in Milan was built around 1956. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 56% of homes were built before 1960, about 21 points above Ripley County's 35%.
In Milan, the housing stock is 73% single-family homes, 12% apartments in buildings with 5+ units and 9% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Milan, about 64% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Milan has an owner-occupancy rate of 82% and a vacancy rate of 4%; unoccupied homes typically need a different coverage form.
In Milan, 52% of homes are primarily heated with natural gas.
Ripley County had 14 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively Moderate). See the full Ripley 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 Indiana carries a statewide average premium of $1,259 per year.
Key figures
| Median home value | $157,400 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 82% |
| Share of owner-occupied homes with a mortgage | 64% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Ripley County | 14 |
| 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)