Home Insurance in Oakwood, Oklahoma
With a median home value of $115,600, Oakwood is 13% lower than the Dewey County median.
The typical home in Oakwood was built around 1972. About 43% of homes were built before 1960, about 11 points above Dewey County's 32%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Oakwood is 86% single-family homes and 14% mobile or manufactured homes.
16% of owner-occupied homes in Oakwood carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 73% of occupied homes in Oakwood are owner-occupied. The vacancy rate is 26%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 50% of homes in Oakwood are primarily heated with electricity.
What's the biggest home insurance risk near Oakwood? FEMA's National Risk Index points to wildfire (Relatively Low) in Dewey County and Dewey County has no active NFIP flood policies on file. See the full Dewey 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 Oklahoma is $2,486 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $115,600 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 73% |
| Share of owner-occupied homes with a mortgage | 16% |
| Top county hazard | Wildfire (Relatively Low) |
| Home insurance premium | $2,486 - 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)