Home Insurance in North Mankato, Minnesota
The median home value in North Mankato is $262,100, close to the Nicollet County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in North Mankato was built around 1982. About 24% of homes were built before 1960, about 4 points below Nicollet County's 29%.
In North Mankato, the housing stock is 69% single-family homes, 15% apartments in buildings with 5+ units and 5% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
66% of owner-occupied homes in North Mankato carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 70% of occupied homes in North Mankato are owner-occupied. The vacancy rate is 3%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
78% of homes in North Mankato are primarily heated with natural gas.
FEMA rates Nicollet County's overall risk as Relatively Low, led by strong wind (Relatively High). Nicollet County had 32 active NFIP flood policies as of September 2026. 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 | $262,100 |
|---|---|
| Median year built | 1982 |
| Owner-occupied share | 70% |
| Share of owner-occupied homes with a mortgage | 66% |
| 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)