Home Insurance in Florham Park, New Jersey
Homes in Florham Park carry a median value of $791,400 - 36% higher than the Morris County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Florham Park was built around 1984. About 24% of homes were built before 1960, about 9 points below Morris County's 33%.
In Florham Park, the housing stock is 64% single-family homes and 32% apartments in buildings with 5+ units.
59% of owner-occupied homes in Florham Park carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Florham Park has an owner-occupancy rate of 70% and a vacancy rate of 8%; unoccupied homes typically need a different coverage form.
In Florham Park, 77% of homes are primarily heated with natural gas.
Morris County's top FEMA-rated hazard is strong wind (Relatively High), per FEMA's National Risk Index. Morris County had 2,729 active NFIP flood policies as of September 2026. See the full Morris 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 New Jersey carries a statewide average premium of $1,551 per year.
Key figures
| Median home value | $791,400 |
|---|---|
| Median year built | 1984 |
| Owner-occupied share | 70% |
| Share of owner-occupied homes with a mortgage | 59% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Morris County | 2,729 |
| 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)