Home Insurance in Franklin, Iowa
The median home value in Franklin is $111,300, 21% lower than the Lee County median.
The typical home in Franklin was built around 1954. About 54% of homes were built before 1960, about 4 points above Lee County's 50%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
The housing stock in Franklin is 100% single-family homes.
About 33% of owner-occupied homes in Franklin have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 90% of occupied homes in Franklin are owner-occupied.
62% of homes in Franklin are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Lee County had 63 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hail (Relatively Moderate). See the full Lee 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 | $111,300 |
|---|---|
| Median year built | 1954 |
| Owner-occupied share | 90% |
| Share of owner-occupied homes with a mortgage | 33% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Lee County | 63 |
| 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)