Home Insurance in Albany, Minnesota
With a median home value of $238,500, Albany is 13% lower than the Stearns County median.
The typical home in Albany was built around 1983. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 18% of homes were built before 1960, about 3 points below Stearns County's 21%.
Housing in Albany breaks down to 67% single-family homes, 25% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
68% of owner-occupied homes in Albany carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Albany has an owner-occupancy rate of 67% and a vacancy rate of 4%; unoccupied homes typically need a different coverage form.
Most homes in Albany - 75% - are primarily heated with natural gas.
FEMA rates Stearns County's overall risk as Relatively Moderate, led by strong wind (Relatively High). Stearns County had 160 active NFIP flood policies as of September 2026. See the full Stearns 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 | $238,500 |
|---|---|
| Median year built | 1983 |
| Owner-occupied share | 67% |
| Share of owner-occupied homes with a mortgage | 68% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Stearns County | 160 |
| 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)