Home Insurance in Multnomah County, Oregon
With a median home value of $552,700, Multnomah County is 16% higher than the Oregon median.
The typical home in Multnomah County was built around 1972. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 40% of homes were built before 1960, about 17 points above Oregon's 23%.
In Multnomah County, the housing stock is 58% single-family homes, 32% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
In Multnomah County, about 72% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 53% of occupied homes in Multnomah County are owner-occupied. The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Multnomah County, 49% of homes are primarily heated with electricity.
FEMA's National Risk Index lists earthquake (Relatively High), inland flooding (Relatively High) and winter weather (Relatively High) as the leading hazards for Multnomah County. Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy. As of September 2026, Multnomah County has 4,419 active NFIP flood policies on file.
The statewide average premium for a standard HO-3 homeowners policy in Oregon is $1,003 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $552,700 |
|---|---|
| Median year built | 1972 |
| Owner-occupied share | 53% |
| Share of owner-occupied homes with a mortgage | 72% |
| Top hazards (FEMA National Risk Index) | Earthquake (Relatively High), Inland Flooding (Relatively High), Winter Weather (Relatively High) |
| Active NFIP flood policies (county) | 4,419 |
| Home insurance premium | $1,003 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- 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)