Home Insurance in Lake Park, Minnesota
With a median home value of $196,500, Lake Park is 32% lower than the Becker County median.
The typical home in Lake Park was built around 1951. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 54% of homes were built before 1960, about 28 points above Becker County's 25%.
In Lake Park, the housing stock is 81% single-family homes, 10% apartments in buildings with 5+ units and 7% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Lake Park, about 72% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Lake Park has an owner-occupancy rate of 83% and a vacancy rate of 13%; unoccupied homes typically need a different coverage form.
89% of homes in Lake Park are primarily heated with natural gas.
What's the biggest home insurance risk near Lake Park? FEMA's National Risk Index points to winter weather (Relatively High) in Becker County and Becker County had 8 active NFIP flood policies as of September 2026. See the full Becker County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Minnesota is $1,988 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $196,500 |
|---|---|
| Median year built | 1951 |
| Owner-occupied share | 83% |
| Share of owner-occupied homes with a mortgage | 72% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in Becker County | 8 |
| 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)