Home Insurance in Welcome, Minnesota
The median home value in Welcome is $101,600, 38% lower than the Martin County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Welcome was built around 1950. About 64% of homes were built before 1960, about 14 points above Martin County's 50%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Welcome is 80% single-family homes, 3% apartments in buildings with 5+ units and 7% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
55% of owner-occupied homes in Welcome carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 77% of occupied homes in Welcome are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Welcome - 93% - are primarily heated with natural gas.
Martin County has no active NFIP flood policies on file. Its top FEMA-rated hazard is winter weather (Relatively High). 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 | $101,600 |
|---|---|
| Median year built | 1950 |
| Owner-occupied share | 77% |
| Share of owner-occupied homes with a mortgage | 55% |
| 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)