Home Insurance in Water Valley, Mississippi
The median home value in Water Valley is $135,500, 11% higher than the Yalobusha County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Water Valley was built around 1972. About 32% of homes were built before 1960, about 14 points above Yalobusha County's 18%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Water Valley is 66% single-family homes, 16% apartments in buildings with 5+ units and 8% mobile or manufactured homes.
58% of owner-occupied homes in Water Valley carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Water Valley has an owner-occupancy rate of 49% and a vacancy rate of 22%; unoccupied homes typically need a different coverage form.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 49% of homes in Water Valley are primarily heated with electricity.
FEMA rates Yalobusha County's overall risk as Very Low, led by earthquake (Relatively Low). Yalobusha County had 18 active NFIP flood policies as of September 2026. See the full Yalobusha 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 | $135,500 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 49% |
| Share of owner-occupied homes with a mortgage | 58% |
| Top county hazard | Earthquake (Relatively Low) |
| Active NFIP policies in Yalobusha 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)