Home Insurance in Fairchance, Pennsylvania
With a median home value of $169,100, Fairchance is 18% higher than the Fayette County median.
The typical home in Fairchance was built around 1960. About 51% of homes were built before 1960, in line with Fayette County (51%). Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Fairchance, the housing stock is 62% single-family homes, 14% apartments in buildings with 5+ units and 13% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 48% of owner-occupied homes in Fairchance have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 55% of occupied homes in Fairchance are owner-occupied. The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Fairchance, 47% of homes are primarily heated with natural gas. Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Fayette County's top FEMA-rated hazard is inland flooding (Relatively Moderate), per FEMA's National Risk Index. Fayette County had 266 active NFIP flood policies as of September 2026. See the full Fayette County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in Pennsylvania is $1,217 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $169,100 |
|---|---|
| Median year built | 1960 |
| Owner-occupied share | 55% |
| Share of owner-occupied homes with a mortgage | 48% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Fayette County | 266 |
| Home insurance premium | $1,217 - 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)