Home Insurance in Milroy, Minnesota
Homes in Milroy carry a median value of $112,500 - 29% lower than the Redwood County median.
The typical home in Milroy was built around 1970. About 42% of homes were built before 1960, about 4 points below Redwood County's 45%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Milroy is 90% single-family homes, 5% apartments in buildings with 5+ units and 3% mobile or manufactured homes.
In Milroy, about 43% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 83% of occupied homes in Milroy 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 Milroy - 77% - are primarily heated with propane.
Redwood County had 4 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is winter weather (Relatively Moderate). See the full Redwood County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Minnesota carries a statewide average premium of $1,988 per year.
Key figures
| Median home value | $112,500 |
|---|---|
| Median year built | 1970 |
| Owner-occupied share | 83% |
| Share of owner-occupied homes with a mortgage | 43% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in Redwood County | 4 |
| 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)