Home Insurance in Forest Lake, Minnesota
Homes in Forest Lake carry a median value of $393,500 - 7% lower than the Washington County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Forest Lake was built around 1988. About 16% of homes were built before 1960, about 3 points above Washington County's 13%.
Housing in Forest Lake breaks down to 73% single-family homes, 23% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
69% of owner-occupied homes in Forest Lake carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 73% of occupied homes in Forest Lake are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Forest Lake, 71% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Forest Lake? FEMA's National Risk Index points to strong wind (Very High) in Washington County and Washington County had 323 active NFIP flood policies as of September 2026. See the full Washington 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 | $393,500 |
|---|---|
| Median year built | 1988 |
| Owner-occupied share | 73% |
| Share of owner-occupied homes with a mortgage | 69% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Washington County | 323 |
| 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)