Home Insurance in Wood Lake, Minnesota
The median home value in Wood Lake is $91,700, 41% lower than the Yellow Medicine County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The median home in Wood Lake was built in 1939 or earlier. About 72% of homes were built before 1960, about 20 points above Yellow Medicine County's 53%.
The housing stock in Wood Lake is 95% single-family homes, 3% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
About 47% of owner-occupied homes in Wood Lake have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Wood Lake has an owner-occupancy rate of 85% and a vacancy rate of 6%; unoccupied homes typically need a different coverage form.
Most homes in Wood Lake - 89% - are primarily heated with natural gas.
What's the biggest home insurance risk near Wood Lake? FEMA's National Risk Index points to winter weather (Relatively Moderate) in Yellow Medicine County and 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.
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 | $91,700 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 85% |
| Share of owner-occupied homes with a mortgage | 47% |
| 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)