Home Insurance in Pennington, New Jersey
The median home value in Pennington is $672,900, 78% higher than the Mercer County median.
The typical home in Pennington was built around 1953. About 57% of homes were built before 1960, about 19 points above Mercer County's 38%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In Pennington, the housing stock is 80% single-family homes and 13% apartments in buildings with 5+ units.
About 64% of owner-occupied homes in Pennington have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 82% of occupied homes in Pennington are owner-occupied. The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Pennington - 69% - are primarily heated with natural gas. Homes heated with fuel oil 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 Pennington? FEMA's National Risk Index points to strong wind (Very High) in Mercer County and Mercer County had 1,488 active NFIP flood policies as of September 2026. See the full Mercer County home insurance overview for all FEMA hazard ratings and flood coverage details.
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 | $672,900 |
|---|---|
| Median year built | 1953 |
| Owner-occupied share | 82% |
| Share of owner-occupied homes with a mortgage | 64% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Mercer County | 1,488 |
| 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)