Home Insurance in Thief River Falls, Minnesota
With a median home value of $175,400, Thief River Falls is 10% lower than the Pennington County median.
The typical home in Thief River Falls was built around 1972. About 38% of homes were built before 1960, about 4 points above Pennington County's 34%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Thief River Falls, the housing stock is 62% single-family homes, 26% apartments in buildings with 5+ units and 5% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Thief River Falls, about 65% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 64% of occupied homes in Thief River Falls are owner-occupied. The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Thief River Falls - 63% - are primarily heated with natural gas.
Pennington County's top FEMA-rated hazard is wildfire (Relatively Low), per FEMA's National Risk Index. Pennington County had 7 active NFIP flood policies as of September 2026. See the full Pennington 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 | $175,400 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 64% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Pennington 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)