Home Insurance in Oacoma, South Dakota
With a median home value of $171,700, Oacoma is close to the Lyman County median.
The typical home in Oacoma was built around 1988. About 9% of homes were built before 1960, about 15 points below Lyman County's 24%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
The housing stock in Oacoma is 69% single-family homes, 12% apartments in buildings with 5+ units and 15% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Oacoma, about 34% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Oacoma has an owner-occupancy rate of 78% and a vacancy rate of 16%; unoccupied homes typically need a different coverage form.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Oacoma - 58% - are primarily heated with electricity.
Lyman County had 2 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is wildfire (Relatively Low). See the full Lyman County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in South Dakota carries a statewide average premium of $1,614 per year.
Key figures
| Median home value | $171,700 |
|---|---|
| Median year built | 1988 |
| Owner-occupied share | 78% |
| Share of owner-occupied homes with a mortgage | 34% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Lyman County | 2 |
| 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)