Home Insurance in McGrath, Minnesota
The median home value in McGrath is $72,500, 72% lower than the Aitkin 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 McGrath was built around 1980. About 20% of homes were built before 1960, about 2 points below Aitkin County's 22%.
In McGrath, the housing stock is 59% single-family homes and 41% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In McGrath, about 13% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 66%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. All occupied homes in McGrath are owner-occupied.
Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in McGrath - 80% - are primarily heated with propane.
Aitkin County's top FEMA-rated hazard is inland flooding (Relatively Low), per FEMA's National Risk Index. Aitkin County had 104 active NFIP flood policies as of September 2026. See the full Aitkin County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Minnesota carries a statewide average premium of $1,988 per year.
Key figures
| Median home value | $72,500 |
|---|---|
| Median year built | 1980 |
| Owner-occupied share | 100% |
| Share of owner-occupied homes with a mortgage | 13% |
| Top county hazard | Inland Flooding (Relatively Low) |
| Active NFIP policies in Aitkin County | 104 |
| Home insurance premium | $1,988 - 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)