Home Insurance in Madison, Virginia
With a median home value of $334,400, Madison is 10% lower than the Madison County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Madison was built around 1946. About 63% of homes were built before 1960, about 40 points above Madison County's 24%.
The housing stock in Madison is 75% single-family homes, 8% apartments in buildings with 5+ units and 9% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Madison, about 47% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 46% of occupied homes in Madison are owner-occupied. The vacancy rate is 22%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Madison - 62% - are primarily heated with electricity. Homes heated with propane, fuel oil and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near Madison? FEMA's National Risk Index points to hurricane (Relatively Low) in Madison County and Madison County had 29 active NFIP flood policies as of September 2026. See the full Madison 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 | $334,400 |
|---|---|
| Median year built | 1946 |
| Owner-occupied share | 46% |
| Share of owner-occupied homes with a mortgage | 47% |
| Top county hazard | Hurricane (Relatively Low) |
| Active NFIP policies in Madison County | 29 |
| 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)