Home Insurance in Granite Falls, Minnesota
With a median home value of $136,700, Granite Falls is 12% lower than the Yellow Medicine County median.
The typical home in Granite Falls was built around 1971. About 37% of homes were built before 1960, about 16 points below Yellow Medicine County's 53%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in Granite Falls is 78% single-family homes, 13% apartments in buildings with 5+ units and 7% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 54% of owner-occupied homes in Granite Falls have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 1%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 74% of occupied homes in Granite Falls are owner-occupied.
Most homes in Granite Falls - 77% - are primarily heated with natural gas.
FEMA rates Yellow Medicine County's overall risk as Very Low, led by winter weather (Relatively Moderate). Yellow Medicine County had 15 active NFIP flood policies as of September 2026. See the full Yellow Medicine 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 | $136,700 |
|---|---|
| Median year built | 1971 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 54% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in Yellow Medicine County | 15 |
| 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)