Home Insurance in Parksley, Virginia
The median home value in Parksley is $163,100, 20% lower than the Accomack County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The median home in Parksley was built in 1939 or earlier. About 76% of homes were built before 1960, about 48 points above Accomack County's 28%.
In Parksley, the housing stock is 87% single-family homes and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
48% of owner-occupied homes in Parksley carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 63% of occupied homes in Parksley are owner-occupied. The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 73% of homes in Parksley are primarily heated with electricity.
Accomack County's top FEMA-rated hazard is coastal flooding (Very High), per FEMA's National Risk Index. Accomack County had 2,847 active NFIP flood policies as of September 2026. See the full Accomack County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Virginia carries a statewide average premium of $1,537 per year.
Key figures
| Median home value | $163,100 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 63% |
| Share of owner-occupied homes with a mortgage | 48% |
| Top county hazard | Coastal Flooding (Very High) |
| Active NFIP policies in Accomack County | 2,847 |
| Home insurance premium | $1,537 - 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)