Home Insurance in Lafayette, Minnesota
With a median home value of $155,800, Lafayette is 42% lower than the Nicollet County median.
The typical home in Lafayette was built around 1951. About 61% of homes were built before 1960, about 33 points above Nicollet County's 29%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In Lafayette, the housing stock is 85% single-family homes, 6% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Lafayette, about 76% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 15%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 84% of occupied homes in Lafayette are owner-occupied.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Lafayette - 60% - are primarily heated with natural gas.
Nicollet County had 32 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively High). See the full Nicollet 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 | $155,800 |
|---|---|
| Median year built | 1951 |
| Owner-occupied share | 84% |
| Share of owner-occupied homes with a mortgage | 76% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Nicollet County | 32 |
| 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)