Home Insurance in Fergus Falls, Minnesota
Homes in Fergus Falls carry a median value of $194,000 - 29% lower than the Otter Tail County median.
The typical home in Fergus Falls was built around 1975. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 33% of homes were built before 1960, about 7 points above Otter Tail County's 27%.
In Fergus Falls, the housing stock is 64% single-family homes, 26% apartments in buildings with 5+ units and 3% mobile or manufactured homes.
About 52% of owner-occupied homes in Fergus Falls have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 64% of occupied homes in Fergus Falls are owner-occupied.
In Fergus Falls, 55% of homes are primarily heated with natural gas.
Otter Tail County's top FEMA-rated hazard is winter weather (Very High), per FEMA's National Risk Index. Otter Tail County had 7 active NFIP flood policies as of September 2026. See the full Otter Tail 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 | $194,000 |
|---|---|
| Median year built | 1975 |
| Owner-occupied share | 64% |
| Share of owner-occupied homes with a mortgage | 52% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Otter Tail County | 7 |
| 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)