Home Insurance in Palisades Park, New Jersey
The median home value in Palisades Park is $719,600, 16% higher than the Bergen County median.
The typical home in Palisades Park was built around 1976. About 33% of homes were built before 1960, about 18 points below Bergen County's 51%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
Housing in Palisades Park breaks down to 34% single-family homes, 27% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 59% of owner-occupied homes in Palisades Park have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 2%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 35% of occupied homes in Palisades Park are owner-occupied.
Most homes in Palisades Park - 73% - 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.
What's the biggest home insurance risk near Palisades Park? FEMA's National Risk Index points to coastal flooding (Very High) in Bergen County and Bergen County had 10,272 active NFIP flood policies as of September 2026. See the full Bergen County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in New Jersey is $1,551 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $719,600 |
|---|---|
| Median year built | 1976 |
| Owner-occupied share | 35% |
| Share of owner-occupied homes with a mortgage | 59% |
| Top county hazard | Coastal Flooding (Very High) |
| Active NFIP policies in Bergen County | 10,272 |
| Home insurance premium | $1,551 - 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)