Home Insurance in New York County, New York
With a median home value of $1,090,500, New York County is 157% higher than the New York median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in New York County was built around 1951. About 58% of homes were built before 1960, about 6 points above New York's 52%.
The housing stock in New York County is 2% single-family homes and 95% apartments in buildings with 5+ units.
49% of owner-occupied homes in New York County carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 16%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 25% of occupied homes in New York County are owner-occupied.
In New York County, 49% of homes are primarily heated with natural gas. Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA's National Risk Index lists strong wind (Very High), inland flooding (Very High) and winter weather (Very High) as the leading hazards for New York County.
New York County had 14,814 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood 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 | $1,090,500 |
|---|---|
| Median year built | 1951 |
| Owner-occupied share | 25% |
| Share of owner-occupied homes with a mortgage | 49% |
| Top hazards (FEMA National Risk Index) | Strong Wind (Very High), Inland Flooding (Very High), Winter Weather (Very High) |
| Active NFIP flood policies (county) | 14,814 |
| Home insurance premium | $1,801 - statewide average (NAIC, 2023 data) |
Sources
- 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)