Home Insurance in Milan, Tennessee
With a median home value of $144,100, Milan is 8% lower than the Gibson County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Milan was built around 1976. About 27% of homes were built before 1960, in line with Gibson County (28%).
The housing stock in Milan is 73% single-family homes, 6% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
69% of owner-occupied homes in Milan carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 56% of occupied homes in Milan are owner-occupied.
51% of homes in Milan are primarily heated with electricity.
Gibson County had 126 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is earthquake (Relatively Moderate). See the full Gibson County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in Tennessee is $1,649 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $144,100 |
|---|---|
| Median year built | 1976 |
| Owner-occupied share | 56% |
| Share of owner-occupied homes with a mortgage | 69% |
| Top county hazard | Earthquake (Relatively Moderate) |
| Active NFIP policies in Gibson County | 126 |
| Home insurance premium | $1,649 - 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)