Home Insurance in Richmond, Missouri
With a median home value of $142,600, Richmond is 28% lower than the Ray County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Richmond was built around 1962. About 46% of homes were built before 1960, about 15 points above Ray County's 31%.
In Richmond, the housing stock is 74% single-family homes and 4% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
62% of owner-occupied homes in Richmond carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 57% of occupied homes in Richmond are owner-occupied. The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Richmond, 68% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Richmond? FEMA's National Risk Index points to winter weather (Relatively Moderate) in Ray County and Ray County had 78 active NFIP flood policies as of September 2026. See the full Ray 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 | $142,600 |
|---|---|
| Median year built | 1962 |
| Owner-occupied share | 57% |
| Share of owner-occupied homes with a mortgage | 62% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in Ray County | 78 |
| 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)