Home Insurance in Madrid, Nebraska
Homes in Madrid carry a median value of $91,300 - 42% lower than the Perkins County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Madrid was built around 1963. About 47% of homes were built before 1960, about 15 points below Perkins County's 62%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Madrid is 92% single-family homes and 8% mobile or manufactured homes.
About 41% of owner-occupied homes in Madrid have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 94% of occupied homes in Madrid are owner-occupied. The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Madrid, 56% of homes are primarily heated with propane.
Perkins County's top FEMA-rated hazard is hail (Relatively Moderate), per FEMA's National Risk Index. Perkins County had 3 active NFIP flood policies as of September 2026. See the full Perkins 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 | $91,300 |
|---|---|
| Median year built | 1963 |
| Owner-occupied share | 94% |
| Share of owner-occupied homes with a mortgage | 41% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Perkins County | 3 |
| 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)