Home Insurance in Cleveland, North Carolina
Homes in Cleveland carry a median value of $242,600 - close to the Rowan County median.
The typical home in Cleveland was built around 1982. About 20% of homes were built before 1960, about 5 points below Rowan County's 24%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In Cleveland, the housing stock is 80% single-family homes, 5% apartments in buildings with 5+ units and 10% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
59% of owner-occupied homes in Cleveland carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 79% of occupied homes in Cleveland are owner-occupied. The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Cleveland - 55% - are primarily heated with electricity.
What's the biggest home insurance risk near Cleveland? FEMA's National Risk Index points to tornado (Relatively Moderate) in Rowan County and Rowan County had 295 active NFIP flood policies as of September 2026. See the full Rowan County home insurance overview for all FEMA hazard ratings and flood coverage details.
In North Carolina, the statewide average premium for a standard HO-3 homeowners policy is $1,852 per year (NAIC, 2023 data).
Key figures
| Median home value | $242,600 |
|---|---|
| Median year built | 1982 |
| Owner-occupied share | 79% |
| Share of owner-occupied homes with a mortgage | 59% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in Rowan County | 295 |
| 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)