Home Insurance in Floodwood, Minnesota
Homes in Floodwood carry a median value of $92,100 - 58% lower than the St. Louis County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Floodwood was built around 1959. About 52% of homes were built before 1960, about 4 points above St. Louis County's 48%.
In Floodwood, the housing stock is 66% single-family homes, 16% apartments in buildings with 5+ units and 15% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 48% of owner-occupied homes in Floodwood have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 71% of occupied homes in Floodwood are owner-occupied. The vacancy rate is 22%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Floodwood - 69% - are primarily heated with natural gas.
FEMA rates St. Louis County's overall risk as Relatively Moderate, led by winter weather (Very High). 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 | $92,100 |
|---|---|
| Median year built | 1959 |
| Owner-occupied share | 71% |
| Share of owner-occupied homes with a mortgage | 48% |
| 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)