Home Insurance in Algoma, Mississippi
The median home value in Algoma is $186,500, 19% higher than the Pontotoc County median.
The typical home in Algoma was built around 1998. About 10% of homes were built before 1960, about 5 points below Pontotoc County's 15%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Algoma is 61% single-family homes and 38% mobile or manufactured homes.
In Algoma, about 66% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 89% of occupied homes in Algoma are owner-occupied. The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Algoma - 71% - are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Pontotoc County's overall risk as Relatively Low, led by earthquake (Relatively Low). Pontotoc County had 18 active NFIP flood policies as of September 2026. See the full Pontotoc County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
In Mississippi, the statewide average premium for a standard HO-3 homeowners policy is $2,029 per year (NAIC, 2023 data).
Key figures
| Median home value | $186,500 |
|---|---|
| Median year built | 1998 |
| Owner-occupied share | 89% |
| Share of owner-occupied homes with a mortgage | 66% |
| Top county hazard | Earthquake (Relatively Low) |
| Active NFIP policies in Pontotoc 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)