HomeInsuranceQts

Home Insurance in Iowa

Iowa's median home value is $208,000.

The typical home in Iowa was built around 1972. About 38% of homes were built before 1960. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.

The housing stock in Iowa is 77% single-family homes, 14% apartments in buildings with 5+ units and 3% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.

About 59% of owner-occupied homes in Iowa have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.

The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 72% of occupied homes in Iowa are owner-occupied.

Most homes in Iowa - 60% - are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.

In Iowa, the statewide average premium for a standard HO-3 homeowners policy is $1,342 per year (NAIC, 2023 data).

Key figures

Median home value$208,000
Median year built1972
Owner-occupied share72%
Share of owner-occupied homes with a mortgage59%
Home insurance premium$1,342 - statewide average (NAIC, 2023 data)

Counties

Sources