Home Insurance in Drake, North Dakota
With a median home value of $75,600, Drake is 50% lower than the McHenry County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Drake was built around 1948. About 65% of homes were built before 1960, about 23 points above McHenry County's 41%.
The housing stock in Drake is 89% single-family homes, 6% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
22% of owner-occupied homes in Drake carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Drake has an owner-occupancy rate of 77% and a vacancy rate of 32%; unoccupied homes typically need a different coverage form.
Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 48% of homes in Drake are primarily heated with electricity.
McHenry County's top FEMA-rated hazard is winter weather (Relatively High), per FEMA's National Risk Index. 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.
In North Dakota, the statewide average premium for a standard HO-3 homeowners policy is $1,414 per year (NAIC, 2023 data).
Key figures
| Median home value | $75,600 |
|---|---|
| Median year built | 1948 |
| Owner-occupied share | 77% |
| Share of owner-occupied homes with a mortgage | 22% |
| 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)