Home Insurance in Palmyra, Nebraska
The median home value in Palmyra is $164,500, 18% lower than the Otoe County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Palmyra was built around 1972. About 31% of homes were built before 1960, about 8 points below Otoe County's 40%.
The housing stock in Palmyra is 91% single-family homes and 9% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 72% of owner-occupied homes in Palmyra have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 94% of occupied homes in Palmyra are owner-occupied. The vacancy rate is 15%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Palmyra - 76% - are primarily heated with natural gas.
Otoe County's top FEMA-rated hazard is hail (Relatively Moderate), per FEMA's National Risk Index. Otoe County had 17 active NFIP flood policies as of September 2026. See the full Otoe 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 Nebraska carries a statewide average premium of $2,142 per year.
Key figures
| Median home value | $164,500 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 94% |
| Share of owner-occupied homes with a mortgage | 72% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Otoe County | 17 |
| Home insurance premium | $2,142 - 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)