Home Insurance in New Market, Virginia
Homes in New Market carry a median value of $272,900 - 7% lower than the Shenandoah County median.
The typical home in New Market was built around 1984. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 24% of homes were built before 1960, about 2 points above Shenandoah County's 22%.
The housing stock in New Market is 63% single-family homes, 21% apartments in buildings with 5+ units and 3% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In New Market, about 56% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 43% of occupied homes in New Market are owner-occupied. The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in New Market - 74% - are primarily heated with electricity.
FEMA rates Shenandoah County's overall risk as Relatively Low, led by hurricane (Relatively Low). Shenandoah County had 108 active NFIP flood policies as of September 2026. See the full Shenandoah 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 | $272,900 |
|---|---|
| Median year built | 1984 |
| Owner-occupied share | 43% |
| Share of owner-occupied homes with a mortgage | 56% |
| Top county hazard | Hurricane (Relatively Low) |
| Active NFIP policies in Shenandoah County | 108 |
| 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)