Home Insurance in Palisade, Minnesota
With a median home value of $86,700, Palisade is 66% lower than the Aitkin County median.
The typical home in Palisade was built around 1950. About 58% of homes were built before 1960, about 36 points above Aitkin County's 22%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In Palisade, the housing stock is 97% single-family homes and 3% mobile or manufactured homes.
In Palisade, about 53% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 22%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 86% of occupied homes in Palisade are owner-occupied.
Most homes in Palisade - 61% - are primarily heated with propane. Homes heated with propane, fuel oil and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Aitkin County had 104 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is inland flooding (Relatively Low). 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 | $86,700 |
|---|---|
| Median year built | 1950 |
| Owner-occupied share | 86% |
| Share of owner-occupied homes with a mortgage | 53% |
| 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)