Home Insurance in Prospect Park, New Jersey
With a median home value of $406,800, Prospect Park is 11% lower than the Passaic County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The median home in Prospect Park was built in 1939 or earlier. About 76% of homes were built before 1960, about 19 points above Passaic County's 57%.
The housing stock in Prospect Park is 27% single-family homes. The rest are 2-4 unit or other housing types.
72% of owner-occupied homes in Prospect Park carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Prospect Park has an owner-occupancy rate of 42% and a vacancy rate of 5%; unoccupied homes typically need a different coverage form.
84% of homes in Prospect Park are primarily heated with natural gas.
Passaic County's top FEMA-rated hazard is strong wind (Very High), per FEMA's National Risk Index. Passaic County had 2,754 active NFIP flood policies as of September 2026. See the full Passaic 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 | $406,800 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 42% |
| Share of owner-occupied homes with a mortgage | 72% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Passaic County | 2,754 |
| 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)