Home Insurance in Memphis, Texas
Homes in Memphis carry a median value of $77,300 - 10% lower than the Hall County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Memphis was built around 1962. About 47% of homes were built before 1960, about 5 points below Hall County's 51%.
In Memphis, the housing stock is 92% single-family homes, 4% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
About 24% of owner-occupied homes in Memphis have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 73% of occupied homes in Memphis are owner-occupied. The vacancy rate is 18%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
67% of homes in Memphis are primarily heated with natural gas.
FEMA rates Hall County's overall risk as Very Low, led by hail (Relatively Moderate). Hall County had 2 active NFIP flood policies as of September 2026. See the full Hall 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 Texas carries a statewide average premium of $2,864 per year.
2 licensed insurance agencies serve this area.
Key figures
| Median home value | $77,300 |
|---|---|
| Median year built | 1962 |
| Owner-occupied share | 73% |
| Share of owner-occupied homes with a mortgage | 24% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Hall County | 2 |
| Home insurance premium | $2,864 - statewide average (NAIC, 2023 data) |
Licensed insurance agencies in Memphis
- KATHY FOWLER AGENCY, LLC, Memphis (General Lines Agency)
- KATHY FOWLER AGENCY, LLC, Memphis (Pers Lines Prop and Cas Agency)
Data source: Texas Department of Insurance - licensed agencies, https://data.texas.gov/d/3yqc-fcdt
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)
- Texas Department of Insurance - licensed agencies (2026)