Home Insurance in Parma, Michigan
Homes in Parma carry a median value of $158,500 - 18% lower than the Jackson County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Parma was built around 1954. About 56% of homes were built before 1960, about 15 points above Jackson County's 42%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Parma is 88% single-family homes and 3% mobile or manufactured homes.
In Parma, about 66% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 78% of occupied homes in Parma are owner-occupied. The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Parma - 85% - are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near Parma? FEMA's National Risk Index points to tornado (Relatively High) in Jackson County and Jackson County had 177 active NFIP flood policies as of September 2026. See the full Jackson County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Michigan, the statewide average premium for a standard HO-3 homeowners policy is $1,110 per year (NAIC, 2023 data).
Key figures
| Median home value | $158,500 |
|---|---|
| Median year built | 1954 |
| Owner-occupied share | 78% |
| Share of owner-occupied homes with a mortgage | 66% |
| Top county hazard | Tornado (Relatively High) |
| Active NFIP policies in Jackson County | 177 |
| 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)