Home Insurance in Hibbing, Minnesota
With a median home value of $130,200, Hibbing is 41% lower than the St. Louis County median.
The typical home in Hibbing was built around 1956. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 60% of homes were built before 1960, about 12 points above St. Louis County's 48%.
The housing stock in Hibbing is 75% single-family homes, 17% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
About 48% of owner-occupied homes in Hibbing have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 71% of occupied homes in Hibbing 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 Hibbing - 55% - are primarily heated with natural gas.
What's the biggest home insurance risk near Hibbing? 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 | $130,200 |
|---|---|
| Median year built | 1956 |
| 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)