Home Insurance in Memphis, Missouri
The median home value in Memphis is $132,800, 16% lower than the Scotland County median.
The typical home in Memphis was built around 1969. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 39% of homes were built before 1960, in line with Scotland County (38%).
In Memphis, the housing stock is 76% single-family homes, 8% apartments in buildings with 5+ units and 2% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
54% of owner-occupied homes in Memphis carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 29%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 72% of occupied homes in Memphis are owner-occupied.
In Memphis, 64% of homes are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Scotland County has no active NFIP flood policies on file. Its top FEMA-rated hazard is hail (Relatively Low). See the full Scotland County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Missouri, the statewide average premium for a standard HO-3 homeowners policy is $1,589 per year (NAIC, 2023 data).
Key figures
| Median home value | $132,800 |
|---|---|
| Median year built | 1969 |
| Owner-occupied share | 72% |
| Share of owner-occupied homes with a mortgage | 54% |
| Top county hazard | Hail (Relatively Low) |
| 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)