Home Insurance in Melbourne, Iowa
With a median home value of $155,400, Melbourne is 7% higher than the Marshall County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Melbourne was built around 1962. About 47% of homes were built before 1960, about 6 points below Marshall County's 53%.
Housing in Melbourne breaks down to 83% single-family homes and 1% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
67% of owner-occupied homes in Melbourne carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 76% of occupied homes in Melbourne are owner-occupied. The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
63% of homes in Melbourne are primarily heated with natural gas.
FEMA rates Marshall County's overall risk as Relatively Low, led by strong wind (Relatively High). Marshall County had 28 active NFIP flood policies as of September 2026. See the full Marshall 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 | $155,400 |
|---|---|
| Median year built | 1962 |
| Owner-occupied share | 76% |
| Share of owner-occupied homes with a mortgage | 67% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Marshall County | 28 |
| 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)