Home Insurance in Magdalena, New Mexico
Homes in Magdalena carry a median value of $99,500 - 28% lower than the Socorro County median.
The typical home in Magdalena was built around 1962. About 46% of homes were built before 1960, about 23 points above Socorro County's 23%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Magdalena, the housing stock is 66% single-family homes and 34% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
8% of owner-occupied homes in Magdalena carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 22%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 93% of occupied homes in Magdalena are owner-occupied.
Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Magdalena - 74% - are primarily heated with wood.
Socorro County had 162 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is wildfire (Relatively Low). See the full Socorro County home insurance overview for all FEMA hazard ratings and flood coverage details.
In New Mexico, the statewide average premium for a standard HO-3 homeowners policy is $1,490 per year (NAIC, 2023 data).
Key figures
| Median home value | $99,500 |
|---|---|
| Median year built | 1962 |
| Owner-occupied share | 93% |
| Share of owner-occupied homes with a mortgage | 8% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Socorro County | 162 |
| 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)