Home Insurance in Wakefield, Virginia
The median home value in Wakefield is $187,800, close to the Sussex County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Wakefield was built around 1971. About 38% of homes were built before 1960, about 16 points above Sussex County's 22%.
The housing stock in Wakefield is 83% single-family homes and 15% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 65% of owner-occupied homes in Wakefield have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 70% of occupied homes in Wakefield are owner-occupied. The vacancy rate is 18%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Wakefield - 67% - are primarily heated with electricity. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Sussex County's top FEMA-rated hazard is hurricane (Relatively Low), per FEMA's National Risk Index. Sussex County had 46 active NFIP flood policies as of September 2026. See the full Sussex 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 | $187,800 |
|---|---|
| Median year built | 1971 |
| Owner-occupied share | 70% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Hurricane (Relatively Low) |
| Active NFIP policies in Sussex County | 46 |
| 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)