Home Insurance in Elk Point, South Dakota
Homes in Elk Point carry a median value of $248,500 - 17% lower than the Union County median.
The typical home in Elk Point was built around 1991. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 24% of homes were built before 1960, about 3 points above Union County's 22%.
In Elk Point, the housing stock is 80% single-family homes, 11% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
71% of owner-occupied homes in Elk Point carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Elk Point has an owner-occupancy rate of 78% and a vacancy rate of 5%; unoccupied homes typically need a different coverage form.
64% of homes in Elk Point are primarily heated with natural gas.
What's the biggest home insurance risk near Elk Point? FEMA's National Risk Index points to wildfire (Relatively Low) in Union County and Union County had 209 active NFIP flood policies as of September 2026. See the full Union 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 | $248,500 |
|---|---|
| Median year built | 1991 |
| Owner-occupied share | 78% |
| Share of owner-occupied homes with a mortgage | 71% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Union County | 209 |
| 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)