Home Insurance in Chelsea, Massachusetts
Homes in Chelsea carry a median value of $493,500 - 30% lower than the Suffolk County median.
The typical home in Chelsea was built around 1941. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 59% of homes were built before 1960, about 1 point above Suffolk County's 58%.
In Chelsea, the housing stock is 13% single-family homes and 44% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Chelsea, about 75% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Chelsea has an owner-occupancy rate of 26% and a vacancy rate of 3%; unoccupied homes typically need a different coverage form.
Most homes in Chelsea - 61% - are primarily heated with natural gas. Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Suffolk County's top FEMA-rated hazard is earthquake (Relatively Moderate), per FEMA's National Risk Index. Suffolk County had 9,522 active NFIP flood policies as of September 2026. See the full Suffolk County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Massachusetts carries a statewide average premium of $2,134 per year.
Key figures
| Median home value | $493,500 |
|---|---|
| Median year built | 1941 |
| Owner-occupied share | 26% |
| Share of owner-occupied homes with a mortgage | 75% |
| Top county hazard | Earthquake (Relatively Moderate) |
| Active NFIP policies in Suffolk County | 9,522 |
| Home insurance premium | $2,134 - 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)