Home Insurance in Prospect, Ohio
Homes in Prospect carry a median value of $164,100 - close to the Marion County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Prospect was built around 1953. About 60% of homes were built before 1960, about 14 points above Marion County's 46%.
Housing in Prospect breaks down to 88% single-family homes, 2% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
In Prospect, about 81% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Prospect has an owner-occupancy rate of 73% and a vacancy rate of 7%; unoccupied homes typically need a different coverage form.
Most homes in Prospect - 83% - are primarily heated with natural gas.
Marion County's top FEMA-rated hazard is strong wind (Relatively High), per FEMA's National Risk Index. Marion County had 199 active NFIP flood policies as of September 2026. See the full Marion 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 Ohio is $1,116 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $164,100 |
|---|---|
| Median year built | 1953 |
| Owner-occupied share | 73% |
| Share of owner-occupied homes with a mortgage | 81% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Marion County | 199 |
| Home insurance premium | $1,116 - 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)