Home Insurance in Lake County, South Dakota
Homes in Lake County carry a median value of $247,600 - close to the South Dakota median.
The typical home in Lake County was built around 1975. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 33% of homes were built before 1960, about 6 points above South Dakota's 28%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Lake County is 76% single-family homes, 9% apartments in buildings with 5+ units and 8% mobile or manufactured homes.
In Lake County, about 53% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 19%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 74% of occupied homes in Lake County are owner-occupied.
Most homes in Lake County - 51% - are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA's National Risk Index lists winter weather (Relatively Moderate), tornado (Relatively Moderate) and hail (Relatively Low) as the leading hazards for Lake County.
Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy. As of September 2026, Lake County has 141 active NFIP flood policies on file.
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 | $247,600 |
|---|---|
| Median year built | 1975 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 53% |
| Top hazards (FEMA National Risk Index) | Winter Weather (Relatively Moderate), Tornado (Relatively Moderate), Hail (Relatively Low) |
| Active NFIP flood policies (county) | 141 |
| Home insurance premium | $1,614 - 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)