Home Insurance in Silver Lake, Minnesota
The median home value in Silver Lake is $202,600, 18% lower than the McLeod County median.
The typical home in Silver Lake was built around 1958. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 53% of homes were built before 1960, about 25 points above McLeod County's 28%.
The housing stock in Silver Lake is 78% single-family homes and 9% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Silver Lake, about 58% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 80% of occupied homes in Silver Lake 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 Silver Lake - 83% - are primarily heated with natural gas.
McLeod County's top FEMA-rated hazard is strong wind (Relatively Moderate), per FEMA's National Risk Index. McLeod County had 38 active NFIP flood policies as of September 2026. See the full McLeod 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 | $202,600 |
|---|---|
| Median year built | 1958 |
| Owner-occupied share | 80% |
| Share of owner-occupied homes with a mortgage | 58% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in McLeod County | 38 |
| 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)