Home Insurance in Binghamton, New York
Homes in Binghamton carry a median value of $124,800 - 19% lower than the Broome County median.
The typical home in Binghamton was built around 1945. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 67% of homes were built before 1960, about 14 points above Broome County's 52%.
The housing stock in Binghamton is 42% single-family homes and 24% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
About 52% of owner-occupied homes in Binghamton have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Binghamton has an owner-occupancy rate of 44% and a vacancy rate of 16%; unoccupied homes typically need a different coverage form.
74% of homes in Binghamton are primarily heated with natural gas.
Broome County's top FEMA-rated hazard is inland flooding (Relatively Moderate), per FEMA's National Risk Index. Broome County had 1,534 active NFIP flood policies as of September 2026. See the full Broome 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 | $124,800 |
|---|---|
| Median year built | 1945 |
| Owner-occupied share | 44% |
| Share of owner-occupied homes with a mortgage | 52% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Broome County | 1,534 |
| 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)