Home Insurance in Oil City, Pennsylvania
Homes in Oil City carry a median value of $74,100 - 38% lower than the Venango County median.
The median home in Oil City was built in 1939 or earlier. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 75% of homes were built before 1960, about 24 points above Venango County's 51%.
In Oil City, the housing stock is 75% single-family homes and 8% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
37% of owner-occupied homes in Oil City carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 61% of occupied homes in Oil City are owner-occupied. The vacancy rate is 15%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
87% of homes in Oil City are primarily heated with natural gas.
Venango County's top FEMA-rated hazard is inland flooding (Relatively Moderate), per FEMA's National Risk Index. Venango County had 126 active NFIP flood policies as of September 2026. See the full Venango County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In Pennsylvania, the statewide average premium for a standard HO-3 homeowners policy is $1,217 per year (NAIC, 2023 data).
Key figures
| Median home value | $74,100 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 61% |
| Share of owner-occupied homes with a mortgage | 37% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Venango County | 126 |
| 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)