Home Insurance in Madison, New York
The median home value in Madison is $107,800, 42% lower than the Madison County median.
The typical home in Madison was built around 1944. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 66% of homes were built before 1960, about 20 points above Madison County's 46%.
The housing stock in Madison is 48% single-family homes and 17% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Madison, about 48% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 63% of occupied homes in Madison are owner-occupied. The vacancy rate is 17%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Madison - 53% - are primarily heated with fuel oil. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Madison County's overall risk as Relatively Low, led by inland flooding (Relatively Moderate). Madison County had 330 active NFIP flood policies as of September 2026. See the full Madison 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 | $107,800 |
|---|---|
| Median year built | 1944 |
| Owner-occupied share | 63% |
| Share of owner-occupied homes with a mortgage | 48% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Madison County | 330 |
| 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)