Home Insurance in Medford, Minnesota
Homes in Medford carry a median value of $249,600 - close to the Steele County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Medford was built around 1985. About 28% of homes were built before 1960, about 6 points below Steele County's 33%.
Housing in Medford breaks down to 90% single-family homes and 6% apartments in buildings with 5+ units.
76% of owner-occupied homes in Medford carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Medford has an owner-occupancy rate of 80% and a vacancy rate of 6%; unoccupied homes typically need a different coverage form.
In Medford, 76% of homes are primarily heated with natural gas.
Steele County's top FEMA-rated hazard is strong wind (Relatively Moderate), per FEMA's National Risk Index. Steele County had 85 active NFIP flood policies as of September 2026. See the full Steele County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Minnesota is $1,988 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $249,600 |
|---|---|
| Median year built | 1985 |
| Owner-occupied share | 80% |
| Share of owner-occupied homes with a mortgage | 76% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Steele County | 85 |
| 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)