Home Insurance in Olney, Texas
With a median home value of $95,100, Olney is 46% lower than the Young County median.
The typical home in Olney was built around 1965. About 39% of homes were built before 1960, about 12 points above Young County's 27%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Housing in Olney breaks down to 82% single-family homes, 2% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 38% of owner-occupied homes in Olney have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 63% of occupied homes in Olney are owner-occupied. The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
71% of homes in Olney are primarily heated with natural gas.
What's the biggest home insurance risk near Olney? FEMA's National Risk Index points to wildfire (Relatively Moderate) in Young County and Young County had 64 active NFIP flood policies as of September 2026. See the full Young 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.
Key figures
| Median home value | $95,100 |
|---|---|
| Median year built | 1965 |
| Owner-occupied share | 63% |
| Share of owner-occupied homes with a mortgage | 38% |
| Top county hazard | Wildfire (Relatively Moderate) |
| Active NFIP policies in Young County | 64 |
| 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)