Home Insurance in Lexington, Minnesota
The median home value in Lexington is $289,800, 16% lower than the Anoka County median.
The typical home in Lexington was built around 1977. About 29% of homes were built before 1960, about 15 points above Anoka County's 13%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Lexington is 56% single-family homes, 24% apartments in buildings with 5+ units and 8% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 64% of owner-occupied homes in Lexington have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 55% of occupied homes in Lexington are owner-occupied. The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Lexington - 84% - are primarily heated with natural gas.
Anoka County's top FEMA-rated hazard is strong wind (Very High), per FEMA's National Risk Index. Anoka County had 259 active NFIP flood policies as of September 2026. See the full Anoka County home insurance overview for all FEMA hazard ratings and flood coverage details.
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 | $289,800 |
|---|---|
| Median year built | 1977 |
| Owner-occupied share | 55% |
| Share of owner-occupied homes with a mortgage | 64% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Anoka County | 259 |
| 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)