Home Insurance in Olmsted County, Minnesota
With a median home value of $331,700, Olmsted County is close to the Minnesota median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Olmsted County was built around 1989. About 19% of homes were built before 1960, about 10 points below Minnesota's 29%.
The housing stock in Olmsted County is 72% single-family homes, 20% apartments in buildings with 5+ units and 3% mobile or manufactured homes.
In Olmsted County, about 61% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 71% of occupied homes in Olmsted County 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 Olmsted County - 72% - are primarily heated with natural gas.
FEMA's National Risk Index lists tornado (Relatively Moderate), inland flooding (Relatively Moderate) and hail (Relatively Moderate) as the leading hazards for Olmsted County.
As of September 2026, Olmsted County has 173 active NFIP flood insurance policies. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
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 | $331,700 |
|---|---|
| Median year built | 1989 |
| Owner-occupied share | 71% |
| Share of owner-occupied homes with a mortgage | 61% |
| Top hazards (FEMA National Risk Index) | Tornado (Relatively Moderate), Inland Flooding (Relatively Moderate), Hail (Relatively Moderate) |
| Active NFIP flood policies (county) | 173 |
| Home insurance premium | $1,988 - statewide average (NAIC, 2023 data) |
Towns and cities
Smaller communities
-
Eyota
- Median home value: $278,200
- Median year built: 1980
- Owner-occupied share: 75%
-
Rochester
- Median home value: $310,500
- Median year built: 1989
- Owner-occupied share: 65%
Sources
- 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)