Home Insurance in Wadena, Iowa
With a median home value of $94,200, Wadena is 31% lower than the Fayette County median.
The median home in Wadena was built in 1939 or earlier. About 73% of homes were built before 1960, about 18 points above Fayette County's 56%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Wadena, the housing stock is 87% single-family homes, 9% apartments in buildings with 5+ units and 3% mobile or manufactured homes.
About 40% of owner-occupied homes in Wadena have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Wadena has an owner-occupancy rate of 77% and a vacancy rate of 16%; unoccupied homes typically need a different coverage form.
Most homes in Wadena - 77% - are primarily heated with propane. Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Fayette County's top FEMA-rated hazard is hail (Relatively Moderate), per FEMA's National Risk Index. Fayette County had 46 active NFIP flood policies as of September 2026. See the full Fayette 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 Iowa carries a statewide average premium of $1,342 per year.
Key figures
| Median home value | $94,200 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 77% |
| Share of owner-occupied homes with a mortgage | 40% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Fayette County | 46 |
| 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)