Home Insurance in Grundy, Virginia
The median home value in Grundy is $203,600, 115% higher than the Buchanan County median.
The typical home in Grundy was built around 1968. About 46% of homes were built before 1960, about 26 points above Buchanan County's 20%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Housing in Grundy breaks down to 88% single-family homes, 6% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
In Grundy, about 59% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 86% of occupied homes in Grundy are owner-occupied. The vacancy rate is 25%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Grundy, 98% of homes are primarily heated with electricity.
FEMA rates Buchanan County's overall risk as Relatively Low, led by wildfire (Relatively Low). Buchanan County had 147 active NFIP flood policies as of September 2026. See the full Buchanan County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Virginia, the statewide average premium for a standard HO-3 homeowners policy is $1,537 per year (NAIC, 2023 data).
Key figures
| Median home value | $203,600 |
|---|---|
| Median year built | 1968 |
| Owner-occupied share | 86% |
| Share of owner-occupied homes with a mortgage | 59% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Buchanan County | 147 |
| 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)