"More than one in four U.S. homes valued at $12.7 trillion are exposed to severe or extreme climate risks, according to a report released Tuesday by Realtor.com. The analysis found that threats from flooding, hurricane winds and wildfires are increasingly reshaping housing markets, homeowner costs and insurance availability. Climate risks are no longer a distant threat for U.S. housing they are a present reality that put a large chunk of U.S. real estate value at risk, said Danielle Hale, chief economist at Realtor.com."
"Nearly 6 million homes worth $3.4 trillion are likely to experience severe or extreme flooding over the next 30 years, according to data from First Street's Flood Factor. That is about 2 million more homes than those identified in FEMA's Special Flood Hazard Areas, the report said. The Miami-Fort Lauderdale-West Palm Beach, Fla., and New York-Newark-Jersey City, N.Y.-N.J., metros account for just over $600 billion worth of homes under severe or extreme flood risk."
"The largest dollar-value gaps between FEMA maps and severe risk estimates are in New York ($95.3 billion), Los Angeles ($65.6 billion) and San Francisco ($54.9 billion). By share of value, New Orleans leads with 66% of its housing stock at risk but not captured by FEMA maps. New Orleans overall at-risk housing stock share of 89% tops the nationwide rankings and nearly doubles second place results from Cape Coral-Fort Myers, Fla."
More than 25% of U.S. homes, representing $12.7 trillion in value, are exposed to severe or extreme climate risks from flooding, hurricane winds, and wildfires. Nearly 6 million homes worth $3.4 trillion are likely to experience severe or extreme flooding over the next 30 years, about 2 million more than FEMA-designated Special Flood Hazard Areas. Miami and New York metros account for just over $600 billion in flood-exposed homes. New York, Los Angeles, and San Francisco show the largest dollar-value FEMA mapping gaps. New Orleans leads by share of at-risk housing. About 18.3% of homes, nearly $8 trillion, face severe wind damage risk in 2025, and overlapping coastal flood and wind hazards increase homeowner and insurer financial burdens.
Read at www.housingwire.com
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