Home Insurance in Paynesville, Minnesota
The median home value in Paynesville is $178,200, 35% lower than the Stearns County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Paynesville was built around 1972. About 38% of homes were built before 1960, about 18 points above Stearns County's 21%.
Housing in Paynesville breaks down to 71% single-family homes and 26% apartments in buildings with 5+ units.
About 67% of owner-occupied homes in Paynesville have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 69% of occupied homes in Paynesville are owner-occupied. The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Paynesville - 82% - are primarily heated with natural gas.
Stearns County's top FEMA-rated hazard is strong wind (Relatively High), per FEMA's National Risk Index. 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 | $178,200 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 69% |
| Share of owner-occupied homes with a mortgage | 67% |
| 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)