Home Insurance in Mountain Iron, Minnesota
The median home value in Mountain Iron is $192,800, 13% lower than the St. Louis County median.
The typical home in Mountain Iron was built around 1974. About 27% of homes were built before 1960, about 21 points below St. Louis County's 48%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Mountain Iron, the housing stock is 69% single-family homes, 22% 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.
In Mountain Iron, about 57% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Mountain Iron has an owner-occupancy rate of 70% and a vacancy rate of 10%; unoccupied homes typically need a different coverage form.
Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Mountain Iron - 51% - are primarily heated with natural gas.
What's the biggest home insurance risk near Mountain Iron? 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.
In Minnesota, the statewide average premium for a standard HO-3 homeowners policy is $1,988 per year (NAIC, 2023 data).
Key figures
| Median home value | $192,800 |
|---|---|
| Median year built | 1974 |
| Owner-occupied share | 70% |
| Share of owner-occupied homes with a mortgage | 57% |
| 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)