More than 4.2 million single-family homes worth an estimated $1.1 trillion combined are at risk of damage from hurricane-driven storm surge, according to an annual report from real estate analytics firm CoreLogic.
Among states, Florida has the highest number of properties at risk, nearly 1.5 million worth $386 billion. Louisiana ranks second with just over 411,000 properties at risk. Among metro areas, the New York metro area, which includes northern New Jersey and Long Island, has both the highest number of properties at risk and the highest property value exposure: more than $200 billion.
For the first time, the report included an analysis of the potential impact of a climate-related rise in sea level on coastal storm-surge risk in some metro areas. Given a one-foot rise in sea level, the Miami area could have the most to lose. The number of properties at risk there would nearly double to just under 340,000 with an increase from $48 billion in property exposure to more than $94 billion.
Source: CoreLogic
