Home Insurance in Redwood Falls, Minnesota
With a median home value of $162,100, Redwood Falls is close to the Redwood County median.
The typical home in Redwood Falls was built around 1973. About 34% of homes were built before 1960, about 12 points below Redwood County's 45%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
The housing stock in Redwood Falls is 70% single-family homes, 17% apartments in buildings with 5+ units and 8% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 53% of owner-occupied homes in Redwood Falls have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Redwood Falls has an owner-occupancy rate of 68% and a vacancy rate of 12%; unoccupied homes typically need a different coverage form.
60% of homes in Redwood Falls are primarily heated with natural gas.
Redwood County's top FEMA-rated hazard is winter weather (Relatively Moderate), per FEMA's National Risk Index. Redwood County had 4 active NFIP flood policies as of September 2026. 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 | $162,100 |
|---|---|
| Median year built | 1973 |
| Owner-occupied share | 68% |
| Share of owner-occupied homes with a mortgage | 53% |
| 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)