Home Insurance in Gray, Iowa
With a median home value of $53,300, Gray is 56% lower than the Audubon County median.
The median home in Gray was built in 1939 or earlier. About 88% of homes were built before 1960, about 24 points above Audubon County's 64%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Gray, the housing stock is 88% single-family homes and 12% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 33% of owner-occupied homes in Gray have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Gray has an owner-occupancy rate of 78% and a vacancy rate of 42%; unoccupied homes typically need a different coverage form.
Most homes in Gray - 57% - are primarily heated with propane. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Audubon County had 4 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hail (Relatively Low). See the full Audubon County home insurance overview for all FEMA hazard ratings and flood coverage details.
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 | $53,300 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 78% |
| Share of owner-occupied homes with a mortgage | 33% |
| Top county hazard | Hail (Relatively Low) |
| Active NFIP policies in Audubon County | 4 |
| Home insurance premium | $1,342 - 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)