Home Insurance in Timber Lake, South Dakota
The median home value in Timber Lake is $81,400, 17% higher than the Dewey County median.
The typical home in Timber Lake was built around 1964. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 43% of homes were built before 1960, about 23 points above Dewey County's 21%.
The housing stock in Timber Lake is 75% single-family homes, 13% apartments in buildings with 5+ units and 10% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
57% of owner-occupied homes in Timber Lake carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 64% of occupied homes in Timber Lake are owner-occupied. The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Timber Lake - 59% - are primarily heated with propane.
Dewey County had 1 active NFIP flood policy as of September 2026. Its top FEMA-rated hazard is winter weather (Relatively High). See the full Dewey County home insurance overview for all FEMA hazard ratings and flood coverage details.
In South Dakota, the statewide average premium for a standard HO-3 homeowners policy is $1,614 per year (NAIC, 2023 data).
Key figures
| Median home value | $81,400 |
|---|---|
| Median year built | 1964 |
| Owner-occupied share | 64% |
| Share of owner-occupied homes with a mortgage | 57% |
| Top county hazard | Winter Weather (Relatively High) |
| Active NFIP policies in Dewey County | 1 |
| Home insurance premium | $1,614 - 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)