Home Insurance in Alva, Oklahoma
The median home value in Alva is $133,600, close to the Woods County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Alva was built around 1955. About 57% of homes were built before 1960, about 7 points above Woods County's 51%.
In Alva, the housing stock is 89% single-family homes, 9% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
58% of owner-occupied homes in Alva carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 18%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 50% of occupied homes in Alva are owner-occupied.
Most homes in Alva - 65% - are primarily heated with natural gas.
What's the biggest home insurance risk near Alva? FEMA's National Risk Index points to wildfire (Relatively Low) in Woods County and Woods County had 3 active NFIP flood policies as of September 2026. See the full Woods 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 | $133,600 |
|---|---|
| Median year built | 1955 |
| Owner-occupied share | 50% |
| Share of owner-occupied homes with a mortgage | 58% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Woods County | 3 |
| 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)