Home Insurance in Promise City, Iowa
The median home value in Promise City is $53,900, 52% lower than the Wayne County median.
The median home in Promise City was built in 1939 or earlier. About 65% of homes were built before 1960, about 21 points above Wayne County's 44%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In Promise City, the housing stock is 100% single-family homes.
About 21% of owner-occupied homes in Promise City have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 74% of occupied homes in Promise City are owner-occupied.
Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 51% of homes in Promise City are primarily heated with propane.
Wayne County's top FEMA-rated hazard is tornado (Relatively Low), per FEMA's National Risk Index. Wayne County has no active NFIP flood policies on file. See the full Wayne 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 | $53,900 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 21% |
| Top county hazard | Tornado (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)