Home Insurance in Wheaton, Minnesota
With a median home value of $87,500, Wheaton is 23% lower than the Traverse County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Wheaton was built around 1961. About 49% of homes were built before 1960, in line with Traverse County (48%).
In Wheaton, the housing stock is 74% single-family homes, 21% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
40% of owner-occupied homes in Wheaton carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Wheaton has an owner-occupancy rate of 77% and a vacancy rate of 22%; 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. 51% of homes in Wheaton are primarily heated with propane.
Traverse County's top FEMA-rated hazard is hail (Relatively Low), per FEMA's National Risk Index. Traverse County had 25 active NFIP flood policies as of September 2026. See the full Traverse 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 | $87,500 |
|---|---|
| Median year built | 1961 |
| Owner-occupied share | 77% |
| Share of owner-occupied homes with a mortgage | 40% |
| Top county hazard | Hail (Relatively Low) |
| Active NFIP policies in Traverse County | 25 |
| 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)