Home Insurance in Lake Placid, New York
With a median home value of $400,000, Lake Placid is 89% higher than the Essex County median.
The typical home in Lake Placid was built around 1967. About 44% of homes were built before 1960, in line with Essex County (43%). Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
The housing stock in Lake Placid is 55% single-family homes and 26% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Lake Placid, about 54% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Lake Placid has an owner-occupancy rate of 46% and a vacancy rate of 31%; unoccupied homes typically need a different coverage form.
In Lake Placid, 75% of homes are primarily heated with electricity. Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Essex County's top FEMA-rated hazard is inland flooding (Relatively Moderate), per FEMA's National Risk Index. Essex County had 166 active NFIP flood policies as of September 2026. See the full Essex County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In New York, the statewide average premium for a standard HO-3 homeowners policy is $1,801 per year (NAIC, 2023 data).
Key figures
| Median home value | $400,000 |
|---|---|
| Median year built | 1967 |
| Owner-occupied share | 46% |
| Share of owner-occupied homes with a mortgage | 54% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Essex County | 166 |
| 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)