Home Insurance in Penns Grove, New Jersey
Homes in Penns Grove carry a median value of $178,200 - 26% lower than the Salem County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Penns Grove was built around 1955. About 64% of homes were built before 1960, about 17 points above Salem County's 47%.
The housing stock in Penns Grove is 63% single-family homes and 17% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
42% of owner-occupied homes in Penns Grove carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 19%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 35% of occupied homes in Penns Grove are owner-occupied.
Most homes in Penns Grove - 56% - 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.
Salem County's top FEMA-rated hazard is coastal flooding (Very High), per FEMA's National Risk Index. Salem County had 1,540 active NFIP flood policies as of September 2026. See the full Salem County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In New Jersey, the statewide average premium for a standard HO-3 homeowners policy is $1,551 per year (NAIC, 2023 data).
Key figures
| Median home value | $178,200 |
|---|---|
| Median year built | 1955 |
| Owner-occupied share | 35% |
| Share of owner-occupied homes with a mortgage | 42% |
| Top county hazard | Coastal Flooding (Very High) |
| Active NFIP policies in Salem County | 1,540 |
| 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)