Home Insurance in Hot Springs, South Dakota
Homes in Hot Springs carry a median value of $202,600 - close to the Fall River County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Hot Springs was built around 1946. About 57% of homes were built before 1960, about 14 points above Fall River County's 43%.
In Hot Springs, the housing stock is 69% single-family homes, 17% apartments in buildings with 5+ units and 5% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Hot Springs, about 43% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 2%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 62% of occupied homes in Hot Springs are owner-occupied.
52% of homes in Hot Springs are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Fall River County's overall risk as Very Low, led by wildfire (Relatively Moderate). Fall River County had 9 active NFIP flood policies as of September 2026. See the full Fall River County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in South Dakota is $1,614 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $202,600 |
|---|---|
| Median year built | 1946 |
| Owner-occupied share | 62% |
| Share of owner-occupied homes with a mortgage | 43% |
| Top county hazard | Wildfire (Relatively Moderate) |
| Active NFIP policies in Fall River County | 9 |
| 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)