Home Insurance in Lake Mills, Iowa
Homes in Lake Mills carry a median value of $122,600 - 9% lower than the Winnebago County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Lake Mills was built around 1964. About 44% of homes were built before 1960, about 4 points below Winnebago County's 48%.
Housing in Lake Mills breaks down to 80% single-family homes and 11% apartments in buildings with 5+ units.
About 52% of owner-occupied homes in Lake Mills have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 10%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 63% of occupied homes in Lake Mills are owner-occupied.
71% of homes in Lake Mills are primarily heated with natural gas.
FEMA rates Winnebago County's overall risk as Very Low, led by winter weather (Relatively Moderate). Winnebago County had 1 active NFIP flood policy as of September 2026. See the full Winnebago County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Iowa is $1,342 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $122,600 |
|---|---|
| Median year built | 1964 |
| Owner-occupied share | 63% |
| Share of owner-occupied homes with a mortgage | 52% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in Winnebago County | 1 |
| 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)