Home Insurance in Gaastra, Michigan
With a median home value of $49,200, Gaastra is 55% lower than the Iron County median.
The typical home in Gaastra was built around 1951. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 63% of homes were built before 1960, about 14 points above Iron County's 49%.
The housing stock in Gaastra is 92% single-family homes and 7% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Gaastra, about 38% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 28%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 91% of occupied homes in Gaastra are owner-occupied.
In Gaastra, 84% of homes are primarily heated with natural gas. Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Iron County had 2 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hail (Relatively Moderate). See the full Iron 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 | $49,200 |
|---|---|
| Median year built | 1951 |
| Owner-occupied share | 91% |
| Share of owner-occupied homes with a mortgage | 38% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Iron County | 2 |
| 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)