Home Insurance in Lake Arthur, New Mexico
The median home value in Lake Arthur is $116,100, 26% lower than the Chaves County median.
The typical home in Lake Arthur was built around 1986. About 22% of homes were built before 1960, about 11 points below Chaves County's 34%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
The housing stock in Lake Arthur is 42% single-family homes and 55% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Lake Arthur, about 4% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 68% of occupied homes in Lake Arthur are owner-occupied. The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Lake Arthur - 54% - are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near Lake Arthur? FEMA's National Risk Index points to strong wind (Relatively High) in Chaves County and Chaves County had 232 active NFIP flood policies as of September 2026. See the full Chaves 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 Mexico carries a statewide average premium of $1,490 per year.
Key figures
| Median home value | $116,100 |
|---|---|
| Median year built | 1986 |
| Owner-occupied share | 68% |
| Share of owner-occupied homes with a mortgage | 4% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Chaves County | 232 |
| Home insurance premium | $1,490 - 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)