Home Insurance in Palmyra, New York
The median home value in Palmyra is $129,700, 24% lower than the Wayne County median.
The typical home in Palmyra was built around 1944. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 69% of homes were built before 1960, about 25 points above Wayne County's 44%.
Housing in Palmyra breaks down to 55% single-family homes and 18% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
65% of owner-occupied homes in Palmyra carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 50% of occupied homes in Palmyra are owner-occupied.
In Palmyra, 62% of homes are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Wayne County had 173 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hail (Relatively Moderate). See the full Wayne County home insurance overview for all FEMA hazard ratings and flood coverage details.
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 | $129,700 |
|---|---|
| Median year built | 1944 |
| Owner-occupied share | 50% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Wayne County | 173 |
| 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)