Home Insurance in University Place, Washington
Homes in University Place carry a median value of $624,800 - 19% higher than the Pierce County median.
The typical home in University Place was built around 1981. About 13% of homes were built before 1960, about 7 points below Pierce County's 20%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in University Place is 61% single-family homes, 26% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 65% of owner-occupied homes in University Place have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 57% of occupied homes in University Place are owner-occupied.
62% of homes in University Place are primarily heated with electricity.
FEMA rates Pierce County's overall risk as Relatively High, led by earthquake (Relatively High). Pierce County had 2,517 active NFIP flood policies as of September 2026. See the full Pierce 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 Washington carries a statewide average premium of $1,232 per year.
Key figures
| Median home value | $624,800 |
|---|---|
| Median year built | 1981 |
| Owner-occupied share | 57% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Earthquake (Relatively High) |
| Active NFIP policies in Pierce County | 2,517 |
| Home insurance premium | $1,232 - 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)