Home Insurance in Iron County, Michigan
The median home value in Iron County is $109,100, 53% lower than the Michigan median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Iron County was built around 1962. About 49% of homes were built before 1960, about 13 points above Michigan's 36%.
The housing stock in Iron County is 89% single-family homes, 4% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 41% of owner-occupied homes in Iron County have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Iron County has an owner-occupancy rate of 84% and a vacancy rate of 39%; unoccupied homes typically need a different coverage form.
Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 49% of homes in Iron County are primarily heated with natural gas.
FEMA's National Risk Index lists hail (Relatively Moderate), winter weather (Relatively Low) and wildfire (Very Low) as the leading hazards for Iron County.
Iron County had 2 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
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 | $109,100 |
|---|---|
| Median year built | 1962 |
| Owner-occupied share | 84% |
| Share of owner-occupied homes with a mortgage | 41% |
| Top hazards (FEMA National Risk Index) | Hail (Relatively Moderate), Winter Weather (Relatively Low), Wildfire (Very Low) |
| Active NFIP flood policies (county) | 2 |
| Home insurance premium | $1,110 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- 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)