Home Insurance in Bailey, Texas
With a median home value of $118,400, Bailey is 49% lower than the Fannin County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Bailey was built around 1979. About 25% of homes were built before 1960, about 5 points above Fannin County's 20%.
In Bailey, the housing stock is 66% single-family homes and 32% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Bailey, about 39% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Bailey has an owner-occupancy rate of 58% and a vacancy rate of 10%; unoccupied homes typically need a different coverage form.
Most homes in Bailey - 72% - are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Fannin County's overall risk as Relatively Low, led by tornado (Relatively Moderate). Fannin County had 146 active NFIP flood policies as of September 2026. See the full Fannin 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 | $118,400 |
|---|---|
| Median year built | 1979 |
| Owner-occupied share | 58% |
| Share of owner-occupied homes with a mortgage | 39% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in Fannin County | 146 |
| 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)