Home Insurance in Spencer, South Dakota
Homes in Spencer carry a median value of $155,600 - 32% lower than the McCook County median.
The typical home in Spencer was built around 1993. About 36% of homes were built before 1960, about 8 points below McCook County's 44%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
The housing stock in Spencer is 81% single-family homes, 8% apartments in buildings with 5+ units and 8% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 54% of owner-occupied homes in Spencer have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Spencer has an owner-occupancy rate of 84% and a vacancy rate of 11%; 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 Spencer - 56% - are primarily heated with natural gas.
McCook County had 20 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is winter weather (Relatively Moderate). See the full McCook 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 | $155,600 |
|---|---|
| Median year built | 1993 |
| Owner-occupied share | 84% |
| Share of owner-occupied homes with a mortgage | 54% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in McCook County | 20 |
| 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)