Home Insurance in New Market, Iowa
With a median home value of $102,700, New Market is 12% lower than the Taylor County median.
The typical home in New Market was built around 1944. About 59% of homes were built before 1960, about 3 points above Taylor County's 57%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Housing in New Market breaks down to 96% single-family homes and 1% mobile or manufactured homes.
45% of owner-occupied homes in New Market carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
New Market has an owner-occupancy rate of 79% and a vacancy rate of 14%; unoccupied homes typically need a different coverage form.
Most homes in New Market - 51% - are primarily heated with propane. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Taylor County's overall risk as Very Low, led by hail (Relatively Low). Taylor County has no active NFIP flood policies on file. See the full Taylor 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 | $102,700 |
|---|---|
| Median year built | 1944 |
| Owner-occupied share | 79% |
| Share of owner-occupied homes with a mortgage | 45% |
| Top county hazard | Hail (Relatively Low) |
| 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)