Home Insurance in Wharton, New Jersey
Homes in Wharton carry a median value of $380,700 - 35% lower than the Morris County median.
The typical home in Wharton was built around 1965. About 41% of homes were built before 1960, about 8 points above Morris County's 33%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Wharton, the housing stock is 67% single-family homes and 27% apartments in buildings with 5+ units.
72% of owner-occupied homes in Wharton carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 59% of occupied homes in Wharton are owner-occupied.
Most homes in Wharton - 62% - 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.
FEMA rates Morris County's overall risk as Relatively Moderate, led by strong wind (Relatively High). 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.
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 | $380,700 |
|---|---|
| Median year built | 1965 |
| Owner-occupied share | 59% |
| Share of owner-occupied homes with a mortgage | 72% |
| 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)