Home Insurance in New Hope, Texas
With a median home value of $422,800, New Hope is 11% lower than the Collin County median.
The typical home in New Hope was built around 1985. About 2% of homes were built before 1960, in line with Collin County (2%). Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In New Hope, the housing stock is 74% single-family homes and 26% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In New Hope, about 42% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
New Hope has an owner-occupancy rate of 70% and a vacancy rate of 1%; 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. 52% of homes in New Hope are primarily heated with electricity.
Collin County had 1,589 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is tornado (Very High). See the full Collin County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Texas, the statewide average premium for a standard HO-3 homeowners policy is $2,864 per year (NAIC, 2023 data).
Key figures
| Median home value | $422,800 |
|---|---|
| Median year built | 1985 |
| Owner-occupied share | 70% |
| Share of owner-occupied homes with a mortgage | 42% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Collin County | 1,589 |
| Home insurance premium | $2,864 - 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)