Home Insurance in Memphis, Michigan
With a median home value of $213,300, Memphis is 13% lower than the Macomb County median.
The typical home in Memphis was built around 1956. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 59% of homes were built before 1960, about 34 points above Macomb County's 25%.
The housing stock in Memphis is 65% single-family homes and 30% apartments in buildings with 5+ units.
66% of owner-occupied homes in Memphis carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Memphis has an owner-occupancy rate of 68% and a vacancy rate of 9%; unoccupied homes typically need a different coverage form.
83% of homes in Memphis are primarily heated with natural gas.
FEMA rates Macomb County's overall risk as Relatively High, led by tornado (Very High). Macomb County had 1,513 active NFIP flood policies as of September 2026. See the full Macomb 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 | $213,300 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 68% |
| Share of owner-occupied homes with a mortgage | 66% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Macomb County | 1,513 |
| 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)