Home Insurance in Spencer, West Virginia
Homes in Spencer carry a median value of $116,800 - close to the Roane County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Spencer was built around 1963. About 46% of homes were built before 1960, about 16 points above Roane County's 30%.
The housing stock in Spencer is 76% single-family homes, 13% apartments in buildings with 5+ units and 3% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Spencer, about 31% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 57% of occupied homes in Spencer are owner-occupied. The vacancy rate is 15%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
71% of homes in Spencer are primarily heated with natural gas.
What's the biggest home insurance risk near Spencer? FEMA's National Risk Index points to inland flooding (Relatively Low) in Roane County and Roane County had 76 active NFIP flood policies as of September 2026. See the full Roane County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in West Virginia is $1,179 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $116,800 |
|---|---|
| Median year built | 1963 |
| Owner-occupied share | 57% |
| Share of owner-occupied homes with a mortgage | 31% |
| Top county hazard | Inland Flooding (Relatively Low) |
| Active NFIP policies in Roane County | 76 |
| Home insurance premium | $1,179 - 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)