Home Insurance in Farmington, Minnesota
The median home value in Farmington is $366,200, close to the Dakota County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Farmington was built around 1998. About 11% of homes were built before 1960, in line with Dakota County (11%).
The housing stock in Farmington is 89% single-family homes, 8% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
About 78% of owner-occupied homes in Farmington have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Farmington has an owner-occupancy rate of 86% and a vacancy rate of 3%; unoccupied homes typically need a different coverage form.
In Farmington, 86% of homes are primarily heated with natural gas.
FEMA rates Dakota County's overall risk as Relatively Moderate, led by strong wind (Very High). Dakota County had 189 active NFIP flood policies as of September 2026. See the full Dakota 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 | $366,200 |
|---|---|
| Median year built | 1998 |
| Owner-occupied share | 86% |
| Share of owner-occupied homes with a mortgage | 78% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Dakota County | 189 |
| 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)