Home Insurance in Babbitt, Minnesota
The median home value in Babbitt is $102,300, 54% lower than the St. Louis County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Babbitt was built around 1959. About 55% of homes were built before 1960, about 7 points above St. Louis County's 48%.
The housing stock in Babbitt is 92% single-family homes, 3% apartments in buildings with 5+ units and 3% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 47% of owner-occupied homes in Babbitt have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Babbitt has an owner-occupancy rate of 87% and a vacancy rate of 21%; unoccupied homes typically need a different coverage form.
In Babbitt, 55% of homes are primarily heated with fuel oil. Homes heated with propane, fuel oil and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near Babbitt? FEMA's National Risk Index points to winter weather (Very High) in St. Louis County and St. Louis County had 343 active NFIP flood policies as of September 2026. See the full St. Louis 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 | $102,300 |
|---|---|
| Median year built | 1959 |
| Owner-occupied share | 87% |
| Share of owner-occupied homes with a mortgage | 47% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in St. Louis County | 343 |
| 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)