Home Insurance in Pennington Gap, Virginia
With a median home value of $92,900, Pennington Gap is 6% lower than the Lee County median.
The typical home in Pennington Gap was built around 1965. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 44% of homes were built before 1960, about 14 points above Lee County's 31%.
In Pennington Gap, the housing stock is 76% single-family homes, 11% apartments in buildings with 5+ units and 10% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Pennington Gap, about 33% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Pennington Gap has an owner-occupancy rate of 43% and a vacancy rate of 21%; unoccupied homes typically need a different coverage form.
Most homes in Pennington Gap - 90% - are primarily heated with electricity.
Lee County had 40 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is wildfire (Relatively Low). See the full Lee 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 Virginia is $1,537 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $92,900 |
|---|---|
| Median year built | 1965 |
| Owner-occupied share | 43% |
| Share of owner-occupied homes with a mortgage | 33% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Lee County | 40 |
| 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)