Home Insurance in Lake, Mississippi
With a median home value of $77,000, Lake is 28% lower than the Newton County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Lake was built around 1976. About 17% of homes were built before 1960, in line with Newton County (17%).
The housing stock in Lake is 52% single-family homes, 3% apartments in buildings with 5+ units and 30% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
23% of owner-occupied homes in Lake carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 10%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 52% of occupied homes in Lake are owner-occupied.
Most homes in Lake - 71% - are primarily heated with electricity.
FEMA rates Newton County's overall risk as Relatively Low, led by tornado (Relatively Moderate). Newton County had 18 active NFIP flood policies as of September 2026. See the full Newton 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 Mississippi carries a statewide average premium of $2,029 per year.
Key figures
| Median home value | $77,000 |
|---|---|
| Median year built | 1976 |
| Owner-occupied share | 52% |
| Share of owner-occupied homes with a mortgage | 23% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in Newton County | 18 |
| Home insurance premium | $2,029 - 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)