Home Insurance in Corvallis, Oregon
The median home value in Corvallis is $502,900, close to the Benton County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Corvallis was built around 1978. About 21% of homes were built before 1960, about 1 point above Benton County's 20%.
In Corvallis, the housing stock is 53% single-family homes, 33% apartments in buildings with 5+ units and 2% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 54% of owner-occupied homes in Corvallis have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 42% of occupied homes in Corvallis are owner-occupied.
In Corvallis, 60% of homes are primarily heated with electricity.
Benton County had 693 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is earthquake (Relatively Moderate). See the full Benton County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
In Oregon, the statewide average premium for a standard HO-3 homeowners policy is $1,003 per year (NAIC, 2023 data).
Key figures
| Median home value | $502,900 |
|---|---|
| Median year built | 1978 |
| Owner-occupied share | 42% |
| Share of owner-occupied homes with a mortgage | 54% |
| Top county hazard | Earthquake (Relatively Moderate) |
| Active NFIP policies in Benton County | 693 |
| Home insurance premium | $1,003 - 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)