Home Insurance in New Hope, Tennessee
The median home value in New Hope is $179,600, 8% lower than the Marion County median.
The typical home in New Hope was built around 1983. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 24% of homes were built before 1960, about 10 points above Marion County's 14%.
The housing stock in New Hope is 74% single-family homes and 23% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
46% of owner-occupied homes in New Hope carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 90% of occupied homes in New Hope are owner-occupied.
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 Hope - 70% - are primarily heated with electricity.
FEMA rates Marion County's overall risk as Relatively Low, led by strong wind (Relatively Moderate). Marion County had 109 active NFIP flood policies as of September 2026. See the full Marion 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 Tennessee carries a statewide average premium of $1,649 per year.
Key figures
| Median home value | $179,600 |
|---|---|
| Median year built | 1983 |
| Owner-occupied share | 90% |
| Share of owner-occupied homes with a mortgage | 46% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Marion County | 109 |
| 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)