Home Insurance in Richfield, Ohio
The median home value in Richfield is $333,900, 60% higher than the Summit County median.
The typical home in Richfield was built around 1973. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 30% of homes were built before 1960, about 12 points below Summit County's 43%.
The housing stock in Richfield is 80% single-family homes and 2% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
61% of owner-occupied homes in Richfield carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Richfield has an owner-occupancy rate of 84% and a vacancy rate of 2%; unoccupied homes typically need a different coverage form.
Most homes in Richfield - 93% - are primarily heated with natural gas.
Summit County's top FEMA-rated hazard is hail (Relatively High), per FEMA's National Risk Index. Summit County had 971 active NFIP flood policies as of September 2026. See the full Summit County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Ohio, the statewide average premium for a standard HO-3 homeowners policy is $1,116 per year (NAIC, 2023 data).
Key figures
| Median home value | $333,900 |
|---|---|
| Median year built | 1973 |
| Owner-occupied share | 84% |
| Share of owner-occupied homes with a mortgage | 61% |
| Top county hazard | Hail (Relatively High) |
| Active NFIP policies in Summit County | 971 |
| Home insurance premium | $1,116 - statewide average (NAIC, 2023 data) |
Nearby towns
- Peninsula
- Brecksville
- Cuyahoga Falls
- Broadview Heights
- Fairlawn
- Boston Heights
- North Royalton
- Brunswick
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)