Homeowners insurance cost in Salem city, Virginia
A transparent county budgeting benchmark—not a carrier quote—with a deliberately wide range.
Estimated annual insurance budget
For a $258,600 home (the county median):
$998/yr (budgeting range $599–$1,397)
Low confidence State NAIC baseline scaled by replacement cost and county hazard risk.
What drives this estimate
- NAIC HO-3 state average
- $1,332/yr
- FEMA county risk percentile
- 18.64 (Very Low)
- Illustrative PITI
- $1,584/mo
The NAIC figure is a historical statewide average, scaled for the county median home value. FEMA's National Risk Index supplies a relative county hazard signal; it is not an insurer's underwriting model and does not include property-specific construction, deductible, credit, claims history, flood coverage, or current market repricing.
Local cost context
Salem city is ranked 17 from highest to lowest effective property-tax rate among 133 published Virginia counties.
Its 0.9% effective tax rate is 0.25 percentage points above the state published-county average of 0.65%.
The county median home value of $258,600 is $0 above the Virginia county median of $258,600.
FEMA risk percentile: 18.64 (Very Low). This is relative risk context, not an underwriting score.
Similar-rate counties
- Richmond city: 0.89% property-tax rate and $353,000 median home value
- Fairfax city: 0.9% property-tax rate and $722,600 median home value
- Buena Vista city: 0.91% property-tax rate and $156,200 median home value
Common questions about Salem city insurance costs
- How much is homeowners insurance in Salem city, Virginia?
- A planning estimate is $998 per year for the county median home value of $258,600. The budgeting range is $599 to $1,397 because carrier quotes depend on property-specific underwriting.
- Why can the real quote be different from this Salem city estimate?
- The model uses public county and state data, while a carrier uses roof age, construction, deductible, coverage limits, credit, claims history, distance to hazards, and current market pricing. Treat the number as an escrow planning benchmark, not an insurance quote.
- What is the combined monthly carrying-cost estimate in Salem city?
- With the page assumptions, monthly PITI is about $1,584. That includes principal and interest, $2,316/yr in estimated property tax, and $998/yr in modeled homeowners insurance.
Estimate insurance and total monthly cost
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Sources, freshness & method
Confidence: Low. Insurance varies materially by home and carrier, so this page uses a ±40% budgeting band rather than false precision.
NAIC baseline as of 2022-12-31; FEMA version 1.20 as of 2025-12-01; data version 2024.1.
Sources: NAIC Homeowners Insurance Report; FEMA National Risk Index. TrueCarry's analysis is not endorsed by FEMA.
Read the insurance and PITI methodology
Insurance disclaimer: Estimate for budgeting only — not an insurance quote and not a binding price. Verify with the county assessor and a licensed professional before making financial decisions.