Home Insurance in Elizabeth, New Jersey
The median home value in Elizabeth is $449,300, 15% lower than the Union County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Elizabeth was built around 1957. About 54% of homes were built before 1960, about 4 points below Union County's 58%.
In Elizabeth, the housing stock is 19% single-family homes and 33% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Elizabeth, about 62% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 26% of occupied homes in Elizabeth are owner-occupied.
Most homes in Elizabeth - 86% - are primarily heated with natural gas.
What's the biggest home insurance risk near Elizabeth? FEMA's National Risk Index points to strong wind (Very High) in Union County and Union County had 4,341 active NFIP flood policies as of September 2026. See the full Union 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 | $449,300 |
|---|---|
| Median year built | 1957 |
| Owner-occupied share | 26% |
| Share of owner-occupied homes with a mortgage | 62% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Union County | 4,341 |
| 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)