Home Insurance in Cromwell, Minnesota
With a median home value of $156,300, Cromwell is 36% lower than the Carlton 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 Cromwell was built around 1979. About 25% of homes were built before 1960, about 9 points below Carlton County's 35%.
The housing stock in Cromwell is 57% single-family homes, 35% apartments in buildings with 5+ units and 9% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Cromwell, about 87% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Cromwell has an owner-occupancy rate of 58% and a vacancy rate of 21%; unoccupied homes typically need a different coverage form.
Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 44% of homes in Cromwell are primarily heated with propane.
FEMA rates Carlton County's overall risk as Relatively Low, led by inland flooding (Relatively Low). Carlton County had 33 active NFIP flood policies as of September 2026. See the full Carlton County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In Minnesota, the statewide average premium for a standard HO-3 homeowners policy is $1,988 per year (NAIC, 2023 data).
Key figures
| Median home value | $156,300 |
|---|---|
| Median year built | 1979 |
| Owner-occupied share | 58% |
| Share of owner-occupied homes with a mortgage | 87% |
| Top county hazard | Inland Flooding (Relatively Low) |
| Active NFIP policies in Carlton County | 33 |
| 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)