Home Insurance in New Fairview, Texas
The median home value in New Fairview is $233,000, 24% lower than the Wise 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 New Fairview was built around 1998. About 3% of homes were built before 1960, about 8 points below Wise County's 11%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in New Fairview is 28% single-family homes and 72% mobile or manufactured homes.
About 62% of owner-occupied homes in New Fairview have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 88% of occupied homes in New Fairview are owner-occupied. The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
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 Fairview - 85% - are primarily heated with electricity.
FEMA rates Wise County's overall risk as Relatively Low, led by wildfire (Relatively Moderate). Wise County had 209 active NFIP flood policies as of September 2026. See the full Wise County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Texas is $2,864 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $233,000 |
|---|---|
| Median year built | 1998 |
| Owner-occupied share | 88% |
| Share of owner-occupied homes with a mortgage | 62% |
| Top county hazard | Wildfire (Relatively Moderate) |
| Active NFIP policies in Wise County | 209 |
| 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)