Home Insurance in Tower, Minnesota
The median home value in Tower is $109,600, 50% lower than the St. Louis County median.
The typical home in Tower was built around 1957. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 58% of homes were built before 1960, about 9 points above St. Louis County's 48%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Tower is 73% single-family homes, 17% apartments in buildings with 5+ units and 5% mobile or manufactured homes.
About 38% of owner-occupied homes in Tower have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Tower has an owner-occupancy rate of 83% and a vacancy rate of 32%; 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. 53% of homes in Tower are primarily heated with propane.
What's the biggest home insurance risk near Tower? 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.
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 | $109,600 |
|---|---|
| Median year built | 1957 |
| Owner-occupied share | 83% |
| Share of owner-occupied homes with a mortgage | 38% |
| 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)