Home Insurance in Hope, New Mexico
The median home value in Hope is $113,600, 47% lower than the Eddy County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Hope was built around 1956. About 61% of homes were built before 1960, about 35 points above Eddy County's 26%.
The housing stock in Hope is 72% single-family homes and 28% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
43% of owner-occupied homes in Hope carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
All occupied homes in Hope are owner-occupied. The vacancy rate is 22%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Hope, 93% of homes are primarily heated with electricity.
What's the biggest home insurance risk near Hope? FEMA's National Risk Index points to winter weather (Relatively High) in Eddy County and Eddy County had 277 active NFIP flood policies as of September 2026. See the full Eddy 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 | $113,600 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 100% |
| Share of owner-occupied homes with a mortgage | 43% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in Eddy County | 277 |
| 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)