Home Insurance in Lathrup Village, Michigan
The median home value in Lathrup Village is $310,600, 10% lower than the Oakland County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Lathrup Village was built around 1955. About 67% of homes were built before 1960, about 40 points above Oakland County's 28%.
The housing stock in Lathrup Village is 95% single-family homes, 1% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
82% of owner-occupied homes in Lathrup Village carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 3%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 92% of occupied homes in Lathrup Village are owner-occupied.
In Lathrup Village, 84% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Lathrup Village? FEMA's National Risk Index points to tornado (Very High) in Oakland County and Oakland County had 1,433 active NFIP flood policies as of September 2026. See the full Oakland 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 | $310,600 |
|---|---|
| Median year built | 1955 |
| Owner-occupied share | 92% |
| Share of owner-occupied homes with a mortgage | 82% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Oakland County | 1,433 |
| 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)