Home Insurance in Waco, North Carolina
Homes in Waco carry a median value of $92,500 - 54% lower than the Cleveland County median.
The typical home in Waco was built around 1964. About 46% of homes were built before 1960, about 26 points above Cleveland County's 19%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Waco is 68% single-family homes and 32% mobile or manufactured homes.
About 46% of owner-occupied homes in Waco have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 86% of occupied homes in Waco are owner-occupied. The vacancy rate is 33%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Waco - 70% - are primarily heated with electricity.
Cleveland County had 37 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is earthquake (Relatively Low). See the full Cleveland County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in North Carolina is $1,852 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $92,500 |
|---|---|
| Median year built | 1964 |
| Owner-occupied share | 86% |
| Share of owner-occupied homes with a mortgage | 46% |
| Top county hazard | Earthquake (Relatively Low) |
| Active NFIP policies in Cleveland County | 37 |
| Home insurance premium | $1,852 - 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)