Home Insurance in Russell, Minnesota
The median home value in Russell is $107,600, 46% lower than the Lyon County median.
The typical home in Russell was built around 1951. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 70% of homes were built before 1960, about 35 points above Lyon County's 34%.
The housing stock in Russell is 96% single-family homes and 4% apartments in buildings with 5+ units.
About 42% of owner-occupied homes in Russell have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Russell has an owner-occupancy rate of 91% and a vacancy rate of 12%; unoccupied homes typically need a different coverage form.
In Russell, 46% of homes are primarily heated with electricity. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Lyon County had 30 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is winter weather (Relatively High). See the full Lyon 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 | $107,600 |
|---|---|
| Median year built | 1951 |
| Owner-occupied share | 91% |
| Share of owner-occupied homes with a mortgage | 42% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in Lyon County | 30 |
| 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)