Home Insurance in Wallace, Kansas
Homes in Wallace carry a median value of $66,500 - 37% lower than the Wallace County median.
The typical home in Wallace was built around 1974. About 28% of homes were built before 1960, about 20 points below Wallace County's 48%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In Wallace, the housing stock is 100% single-family homes.
42% of owner-occupied homes in Wallace carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
All occupied homes in Wallace are owner-occupied. The vacancy rate is 24%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Wallace - 58% - are primarily heated with propane.
FEMA rates Wallace County's overall risk as Very Low, led by hail (Relatively Low). Wallace County has no active NFIP flood policies on file. See the full Wallace County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Kansas, the statewide average premium for a standard HO-3 homeowners policy is $1,733 per year (NAIC, 2023 data).
Key figures
| Median home value | $66,500 |
|---|---|
| Median year built | 1974 |
| Owner-occupied share | 100% |
| Share of owner-occupied homes with a mortgage | 42% |
| Top county hazard | Hail (Relatively Low) |
| Home insurance premium | $1,733 - 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)