Home Insurance in Fairmont, Minnesota
With a median home value of $169,900, Fairmont is close to the Martin County median.
The typical home in Fairmont was built around 1966. About 42% of homes were built before 1960, about 8 points below Martin County's 50%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In Fairmont, the housing stock is 66% single-family homes, 21% apartments in buildings with 5+ units and 2% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
52% of owner-occupied homes in Fairmont carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 61% of occupied homes in Fairmont are owner-occupied.
75% of homes in Fairmont are primarily heated with natural gas.
FEMA rates Martin County's overall risk as Relatively Low, led by winter weather (Relatively High). Martin County has no active NFIP flood policies on file. See the full Martin 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 | $169,900 |
|---|---|
| Median year built | 1966 |
| Owner-occupied share | 61% |
| Share of owner-occupied homes with a mortgage | 52% |
| Top county hazard | Winter Weather (Relatively High) |
| 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)