Home Insurance in Balfour, North Dakota
The median home in Balfour was built in 1939 or earlier. About 83% of homes were built before 1960, about 42 points above McHenry County's 41%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
The housing stock in Balfour is 100% single-family homes.
About 67% of owner-occupied homes in Balfour have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Balfour has an owner-occupancy rate of 100% and a vacancy rate of 50%; unoccupied homes typically need a different coverage form.
67% of homes in Balfour are primarily heated with propane. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near Balfour? FEMA's National Risk Index points to winter weather (Relatively High) in McHenry County and McHenry County had 34 active NFIP flood policies as of September 2026. See the full McHenry County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in North Dakota is $1,414 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median year built | 1939 or earlier |
|---|---|
| Owner-occupied share | 100% |
| Share of owner-occupied homes with a mortgage | 67% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in McHenry County | 34 |
| Home insurance premium | $1,414 - 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)