Home Insurance in Palmyra, Missouri
The median home value in Palmyra is $184,200, 14% higher than the Marion County median.
The typical home in Palmyra was built around 1969. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 38% of homes were built before 1960, in line with Marion County (39%).
The housing stock in Palmyra is 73% single-family homes, 6% apartments in buildings with 5+ units and 5% 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.
In Palmyra, about 51% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 72% of occupied homes in Palmyra are owner-occupied. The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Palmyra - 70% - are primarily heated with natural gas.
Marion County's top FEMA-rated hazard is strong wind (Relatively Moderate), per FEMA's National Risk Index. Marion County had 94 active NFIP flood policies as of September 2026. See the full Marion County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Missouri is $1,589 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $184,200 |
|---|---|
| Median year built | 1969 |
| Owner-occupied share | 72% |
| Share of owner-occupied homes with a mortgage | 51% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Marion County | 94 |
| Home insurance premium | $1,589 - 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)