Home Insurance in Alfred, New York
The median home value in Alfred is $170,800, 68% higher than the Allegany County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Alfred was built around 1954. About 55% of homes were built before 1960, about 11 points above Allegany County's 45%.
The housing stock in Alfred is 42% single-family homes and 26% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
About 37% of owner-occupied homes in Alfred have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 48% of occupied homes in Alfred are owner-occupied. The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
71% of homes in Alfred are primarily heated with natural gas.
Allegany County's top FEMA-rated hazard is inland flooding (Relatively Moderate), per FEMA's National Risk Index. Allegany County had 228 active NFIP flood policies as of September 2026. See the full Allegany County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in New York carries a statewide average premium of $1,801 per year.
Key figures
| Median home value | $170,800 |
|---|---|
| Median year built | 1954 |
| Owner-occupied share | 48% |
| Share of owner-occupied homes with a mortgage | 37% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Allegany County | 228 |
| Home insurance premium | $1,801 - 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)