Home Insurance in Blacksburg, Virginia
With a median home value of $446,300, Blacksburg is 47% higher than the Montgomery County median.
The typical home in Blacksburg was built around 1985. About 12% of homes were built before 1960, about 2 points below Montgomery County's 14%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in Blacksburg is 44% single-family homes, 45% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
In Blacksburg, about 56% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 36% of occupied homes in Blacksburg are owner-occupied. The vacancy rate is 19%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Blacksburg, 69% of homes are primarily heated with electricity.
FEMA rates Montgomery County's overall risk as Relatively Low, led by earthquake (Relatively Low). Montgomery County had 164 active NFIP flood policies as of September 2026. See the full Montgomery County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake 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 | $446,300 |
|---|---|
| Median year built | 1985 |
| Owner-occupied share | 36% |
| Share of owner-occupied homes with a mortgage | 56% |
| Top county hazard | Earthquake (Relatively Low) |
| Active NFIP policies in Montgomery County | 164 |
| 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)