Home Insurance in McGraw, New York
With a median home value of $109,600, McGraw is 32% lower than the Cortland County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The median home in McGraw was built in 1939 or earlier. About 83% of homes were built before 1960, about 33 points above Cortland County's 49%.
In McGraw, the housing stock is 72% single-family homes, 6% apartments in buildings with 5+ units and 2% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
57% of owner-occupied homes in McGraw carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
McGraw has an owner-occupancy rate of 71% and a vacancy rate of 1%; unoccupied homes typically need a different coverage form.
81% of homes in McGraw are primarily heated with natural gas. Homes heated with wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Cortland County's overall risk as Relatively Low, led by inland flooding (Relatively Low). Cortland County had 255 active NFIP flood policies as of September 2026. See the full Cortland 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 | $109,600 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 71% |
| Share of owner-occupied homes with a mortgage | 57% |
| Top county hazard | Inland Flooding (Relatively Low) |
| Active NFIP policies in Cortland County | 255 |
| 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)