Home Insurance in Laurium, Michigan
Homes in Laurium carry a median value of $126,100 - 21% lower than the Houghton County median.
The median home in Laurium was built in 1939 or earlier. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 76% of homes were built before 1960, about 26 points above Houghton County's 50%.
The housing stock in Laurium is 77% single-family homes, 8% apartments in buildings with 5+ units and 5% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Laurium, about 45% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 76% of occupied homes in Laurium are owner-occupied. The vacancy rate is 18%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Laurium - 91% - are primarily heated with natural gas.
What's the biggest home insurance risk near Laurium? FEMA's National Risk Index points to winter weather (Relatively High) in Houghton County and Houghton County had 9 active NFIP flood policies as of September 2026. See the full Houghton County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Michigan carries a statewide average premium of $1,110 per year.
Key figures
| Median home value | $126,100 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 76% |
| Share of owner-occupied homes with a mortgage | 45% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in Houghton County | 9 |
| Home insurance premium | $1,110 - 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)