Home Insurance in Stephen, Minnesota
Homes in Stephen carry a median value of $87,500 - 47% lower than the Marshall County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Stephen was built around 1959. About 52% of homes were built before 1960, about 14 points above Marshall County's 38%.
In Stephen, the housing stock is 82% single-family homes, 16% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
About 27% of owner-occupied homes in Stephen have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 20%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 89% of occupied homes in Stephen are owner-occupied.
Most homes in Stephen - 69% - are primarily heated with natural gas.
Marshall County had 22 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is wildfire (Relatively Low). See the full Marshall 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 | $87,500 |
|---|---|
| Median year built | 1959 |
| Owner-occupied share | 89% |
| Share of owner-occupied homes with a mortgage | 27% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Marshall County | 22 |
| 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)