Home Insurance in Wayzata, Minnesota
The median home value in Wayzata is $1,153,400, 194% higher than the Hennepin County median.
The typical home in Wayzata was built around 1988. About 16% of homes were built before 1960, about 19 points below Hennepin County's 36%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
Housing in Wayzata breaks down to 48% single-family homes and 51% apartments in buildings with 5+ units.
In Wayzata, about 42% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 12%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 59% of occupied homes in Wayzata are owner-occupied.
75% of homes in Wayzata are primarily heated with natural gas.
Hennepin County's top FEMA-rated hazard is tornado (Very High), per FEMA's National Risk Index. 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.
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 | $1,153,400 |
|---|---|
| Median year built | 1988 |
| Owner-occupied share | 59% |
| Share of owner-occupied homes with a mortgage | 42% |
| 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)