Home Insurance in Ithaca, New York
Homes in Ithaca carry a median value of $342,700 - 18% higher than the Tompkins County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Ithaca was built around 1956. About 52% of homes were built before 1960, about 16 points above Tompkins County's 36%.
Housing in Ithaca breaks down to 37% single-family homes, 41% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Ithaca, about 55% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Ithaca has an owner-occupancy rate of 30% and a vacancy rate of 12%; unoccupied homes typically need a different coverage form.
Most homes in Ithaca - 62% - are primarily heated with natural gas.
FEMA rates Tompkins County's overall risk as Relatively Low, led by inland flooding (Relatively Moderate). Tompkins County had 411 active NFIP flood policies as of September 2026. See the full Tompkins 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 | $342,700 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 30% |
| Share of owner-occupied homes with a mortgage | 55% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Tompkins County | 411 |
| 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)