Home Insurance in Franklin County, Iowa
With a median home value of $124,100, Franklin County is 40% lower than the Iowa median.
The typical home in Franklin County was built around 1954. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 60% of homes were built before 1960, about 22 points above Iowa's 38%.
Housing in Franklin County breaks down to 86% single-family homes, 6% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
In Franklin County, about 44% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 10%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 72% of occupied homes in Franklin County are owner-occupied.
46% of homes in Franklin County 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.
The top hazards for Franklin County, per FEMA's National Risk Index, are hail (Relatively Low), winter weather (Relatively Low) and tornado (Relatively Low).
Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy. As of September 2026, Franklin County has 10 active NFIP flood policies on file.
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 | $124,100 |
|---|---|
| Median year built | 1954 |
| Owner-occupied share | 72% |
| Share of owner-occupied homes with a mortgage | 44% |
| Top hazards (FEMA National Risk Index) | Hail (Relatively Low), Winter Weather (Relatively Low), Tornado (Relatively Low) |
| Active NFIP flood policies (county) | 10 |
| Home insurance premium | $1,342 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- 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)