Home Insurance in New Underwood, South Dakota
Homes in New Underwood carry a median value of $193,800 - 36% lower than the Pennington County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in New Underwood was built around 1970. About 38% of homes were built before 1960, about 16 points above Pennington County's 22%.
The housing stock in New Underwood is 64% single-family homes, 9% apartments in buildings with 5+ units and 25% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
54% of owner-occupied homes in New Underwood carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 68% of occupied homes in New Underwood are owner-occupied. The vacancy rate is 21%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in New Underwood - 53% - are primarily heated with propane.
Pennington County's top FEMA-rated hazard is wildfire (Relatively Moderate), per FEMA's National Risk Index. Pennington County had 322 active NFIP flood policies as of September 2026. See the full Pennington 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 | $193,800 |
|---|---|
| Median year built | 1970 |
| Owner-occupied share | 68% |
| Share of owner-occupied homes with a mortgage | 54% |
| Top county hazard | Wildfire (Relatively Moderate) |
| Active NFIP policies in Pennington County | 322 |
| 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)