Home Insurance in Silver City, New Mexico
With a median home value of $182,100, Silver City is close to the Grant County median.
The typical home in Silver City was built around 1972. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 29% of homes were built before 1960, about 6 points above Grant County's 23%.
In Silver City, the housing stock is 65% single-family homes, 14% apartments in buildings with 5+ units and 13% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Silver City, about 44% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 60% of occupied homes in Silver City are owner-occupied. The vacancy rate is 22%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Silver City - 69% - are primarily heated with natural gas.
FEMA rates Grant County's overall risk as Relatively Low, led by wildfire (Relatively Moderate). Grant County had 51 active NFIP flood policies as of September 2026. See the full Grant 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 | $182,100 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 60% |
| Share of owner-occupied homes with a mortgage | 44% |
| Top county hazard | Wildfire (Relatively Moderate) |
| Active NFIP policies in Grant County | 51 |
| 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)