Home Insurance in Fairmount, North Dakota
Homes in Fairmount carry a median value of $93,800 - 49% lower than the Richland County median.
The typical home in Fairmount was built around 1956. About 56% of homes were built before 1960, about 23 points above Richland County's 33%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In Fairmount, the housing stock is 89% single-family homes, 9% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
34% of owner-occupied homes in Fairmount carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Fairmount has an owner-occupancy rate of 90% and a vacancy rate of 17%; unoccupied homes typically need a different coverage form.
Most homes in Fairmount - 61% - 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.
Richland County's top FEMA-rated hazard is winter weather (Relatively High), per FEMA's National Risk Index. Richland County had 53 active NFIP flood policies as of September 2026. See the full Richland 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 | $93,800 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 90% |
| Share of owner-occupied homes with a mortgage | 34% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in Richland County | 53 |
| 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)