Home Insurance in Fredericksburg city, Virginia
The median home value in Fredericksburg city is $483,700, 26% higher than the Virginia median.
The typical home in Fredericksburg city was built around 1986. About 24% of homes were built before 1960, about 5 points above Virginia's 19%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
Housing in Fredericksburg city breaks down to 52% single-family homes and 42% apartments in buildings with 5+ units.
About 73% of owner-occupied homes in Fredericksburg city have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 40% of occupied homes in Fredericksburg city are owner-occupied. The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Fredericksburg city, 55% of homes are primarily heated with electricity.
FEMA's National Risk Index lists hurricane (Very Low), earthquake (Very Low) and strong wind (Relatively Low) as the leading hazards for Fredericksburg city. Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
Fredericksburg city had 109 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood 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 | $483,700 |
|---|---|
| Median year built | 1986 |
| Owner-occupied share | 40% |
| Share of owner-occupied homes with a mortgage | 73% |
| Top hazards (FEMA National Risk Index) | Hurricane (Very Low), Earthquake (Very Low), Strong Wind (Relatively Low) |
| Active NFIP flood policies (county) | 109 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Towns and cities
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)