Home Insurance in Iron Junction, Minnesota
With a median home value of $132,300, Iron Junction is 40% lower than the St. Louis County median.
The typical home in Iron Junction was built around 1958. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 57% of homes were built before 1960, about 9 points above St. Louis County's 48%.
In Iron Junction, the housing stock is 93% single-family homes and 7% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 62% of owner-occupied homes in Iron Junction have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 93% of occupied homes in Iron Junction are owner-occupied.
Most homes in Iron Junction - 74% - are primarily heated with propane. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
St. Louis County's top FEMA-rated hazard is winter weather (Very High), per FEMA's National Risk Index. 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.
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 | $132,300 |
|---|---|
| Median year built | 1958 |
| Owner-occupied share | 93% |
| Share of owner-occupied homes with a mortgage | 62% |
| 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)