Home Insurance in Bloomington, Minnesota
With a median home value of $361,700, Bloomington is 8% lower than the Hennepin 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 Bloomington was built around 1972. About 29% of homes were built before 1960, about 7 points below Hennepin County's 36%.
In Bloomington, the housing stock is 62% single-family homes and 34% apartments in buildings with 5+ units.
In Bloomington, about 62% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Bloomington has an owner-occupancy rate of 66% and a vacancy rate of 4%; unoccupied homes typically need a different coverage form.
Most homes in Bloomington - 75% - are primarily heated with natural gas.
What's the biggest home insurance risk near Bloomington? FEMA's National Risk Index points to tornado (Very High) in Hennepin County and Hennepin County had 959 active NFIP flood policies as of September 2026. See the full Hennepin 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 | $361,700 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 66% |
| Share of owner-occupied homes with a mortgage | 62% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Hennepin County | 959 |
| 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)