Home Insurance in Economy, Indiana
The median home value in Economy is $56,100, 60% lower than the Wayne County median.
The median home in Economy was built in 1939 or earlier. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 76% of homes were built before 1960, about 26 points above Wayne County's 50%.
The housing stock in Economy is 85% single-family homes and 15% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 24% of owner-occupied homes in Economy have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Economy has an owner-occupancy rate of 89% and a vacancy rate of 19%; unoccupied homes typically need a different coverage form.
Homes heated with propane, fuel oil and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 42% of homes in Economy are primarily heated with electricity.
What's the biggest home insurance risk near Economy? FEMA's National Risk Index points to tornado (Relatively High) in Wayne County and Wayne County had 93 active NFIP flood policies as of September 2026. See the full Wayne 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 | $56,100 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 89% |
| Share of owner-occupied homes with a mortgage | 24% |
| Top county hazard | Tornado (Relatively High) |
| Active NFIP policies in Wayne County | 93 |
| 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)