Home Insurance in Falcon Heights, Minnesota
The median home value in Falcon Heights is $384,500, 18% higher than the Ramsey County median.
The typical home in Falcon Heights was built around 1960. About 50% of homes were built before 1960, about 6 points above Ramsey County's 44%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
Housing in Falcon Heights breaks down to 63% single-family homes and 36% apartments in buildings with 5+ units.
In Falcon Heights, about 62% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 57% of occupied homes in Falcon Heights are owner-occupied.
Most homes in Falcon Heights - 66% - are primarily heated with natural gas.
What's the biggest home insurance risk near Falcon Heights? FEMA's National Risk Index points to hail (Relatively High) in Ramsey County and Ramsey County had 447 active NFIP flood policies as of September 2026. See the full Ramsey 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 | $384,500 |
|---|---|
| Median year built | 1960 |
| Owner-occupied share | 57% |
| Share of owner-occupied homes with a mortgage | 62% |
| Top county hazard | Hail (Relatively High) |
| Active NFIP policies in Ramsey County | 447 |
| 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)