Home Insurance in New Albany, Mississippi
The median home value in New Albany is $161,400, close to the Union County median.
The typical home in New Albany was built around 1974. About 24% of homes were built before 1960, about 6 points above Union County's 17%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In New Albany, the housing stock is 79% single-family homes, 8% apartments in buildings with 5+ units and 3% 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.
About 53% of owner-occupied homes in New Albany have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 62% of occupied homes in New Albany are owner-occupied. The vacancy rate is 21%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
50% of homes in New Albany are primarily heated with natural gas.
What's the biggest home insurance risk near New Albany? FEMA's National Risk Index points to earthquake (Relatively Low) in Union County and Union County had 28 active NFIP flood policies as of September 2026. See the full Union 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 | $161,400 |
|---|---|
| Median year built | 1974 |
| Owner-occupied share | 62% |
| Share of owner-occupied homes with a mortgage | 53% |
| Top county hazard | Earthquake (Relatively Low) |
| Active NFIP policies in Union County | 28 |
| 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)