Home Insurance in Odessa, Minnesota
With a median home value of $67,300, Odessa is 60% lower than the Big Stone County median.
The median home in Odessa was built in 1939 or earlier. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 86% of homes were built before 1960, about 36 points above Big Stone County's 51%.
Housing in Odessa breaks down to 98% single-family homes and 2% mobile or manufactured homes.
About 32% of owner-occupied homes in Odessa have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 87% of occupied homes in Odessa are owner-occupied. The vacancy rate is 10%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Odessa - 83% - are primarily heated with propane. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Big Stone County's overall risk as Very Low, led by winter weather (Relatively Moderate). Big Stone County had 32 active NFIP flood policies as of September 2026. See the full Big Stone 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 | $67,300 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 87% |
| Share of owner-occupied homes with a mortgage | 32% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in Big Stone County | 32 |
| 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)