Home Insurance in Lakewood, New York
With a median home value of $158,500, Lakewood is 24% higher than the Chautauqua County median.
The typical home in Lakewood was built around 1959. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 51% of homes were built before 1960, about 8 points below Chautauqua County's 59%.
In Lakewood, the housing stock is 71% single-family homes, 13% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 51% of owner-occupied homes in Lakewood have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Lakewood has an owner-occupancy rate of 64% and a vacancy rate of 22%; unoccupied homes typically need a different coverage form.
Most homes in Lakewood - 69% - are primarily heated with natural gas.
FEMA rates Chautauqua County's overall risk as Relatively Moderate, led by inland flooding (Relatively Moderate). Chautauqua County had 415 active NFIP flood policies as of September 2026. See the full Chautauqua County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in New York is $1,801 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $158,500 |
|---|---|
| Median year built | 1959 |
| Owner-occupied share | 64% |
| Share of owner-occupied homes with a mortgage | 51% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Chautauqua County | 415 |
| 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)