Home Insurance in Medicine Lake, Montana
With a median home value of $106,800, Medicine Lake is 14% lower than the Sheridan County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Medicine Lake was built around 1970. About 42% of homes were built before 1960, about 3 points below Sheridan County's 46%.
The housing stock in Medicine Lake is 60% single-family homes, 1% apartments in buildings with 5+ units and 31% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Medicine Lake, about 18% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 26%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 77% of occupied homes in Medicine Lake are owner-occupied.
Most homes in Medicine Lake - 67% - are primarily heated with propane. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Sheridan County has no active NFIP flood policies on file. Its top FEMA-rated hazard is winter weather (Relatively Moderate). See the full Sheridan County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Montana carries a statewide average premium of $1,768 per year.
Key figures
| Median home value | $106,800 |
|---|---|
| Median year built | 1970 |
| Owner-occupied share | 77% |
| Share of owner-occupied homes with a mortgage | 18% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Home insurance premium | $1,768 - 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)