Home Insurance in Sheffield, Iowa
With a median home value of $151,000, Sheffield is 22% higher than the Franklin County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Sheffield was built around 1958. About 54% of homes were built before 1960, about 6 points below Franklin County's 60%.
In Sheffield, the housing stock is 76% single-family homes and 15% apartments in buildings with 5+ units.
In Sheffield, about 52% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 74% of occupied homes in Sheffield are owner-occupied. The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
64% of homes in Sheffield are primarily heated with natural gas.
FEMA rates Franklin County's overall risk as Very Low, led by hail (Relatively Low). Franklin County had 10 active NFIP flood policies as of September 2026. See the full Franklin 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 | $151,000 |
|---|---|
| Median year built | 1958 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 52% |
| Top county hazard | Hail (Relatively Low) |
| Active NFIP policies in Franklin County | 10 |
| 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)