Home Insurance in Spearfish, South Dakota
The median home value in Spearfish is $346,200, close to the Lawrence County median.
The typical home in Spearfish was built around 1992. About 20% of homes were built before 1960, about 8 points below Lawrence County's 28%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Spearfish is 53% single-family homes, 29% apartments in buildings with 5+ units and 10% mobile or manufactured homes.
In Spearfish, about 55% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 50% of occupied homes in Spearfish are owner-occupied.
In Spearfish, 55% of homes are primarily heated with natural gas.
Lawrence County had 106 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is wildfire (Relatively Moderate). See the full Lawrence 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 | $346,200 |
|---|---|
| Median year built | 1992 |
| Owner-occupied share | 50% |
| Share of owner-occupied homes with a mortgage | 55% |
| Top county hazard | Wildfire (Relatively Moderate) |
| Active NFIP policies in Lawrence County | 106 |
| 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)