Summary
A study by Realtor.com found that nearly one in five U.S. homes are at high risk from hurricane winds, and many homes face risks from floods and fires. The analysis shows that climate change is making extreme weather worse, which raises home insurance costs and leads some insurance companies to leave high-risk areas.
Key Facts
- Around 18.3% of U.S. homes, worth about $8 trillion, are at high risk from hurricane winds.
- About 6.1% of homes, valued at $3.4 trillion, face severe flood risk.
- Approximately 5.6% of homes, worth $3.2 trillion, have a high risk of wildfire damage.
- The study suggests that flood risks are often underestimated.
- Homeowners outside FEMA's flood zones may still need flood insurance due to future climate changes and rain impacts.
- All homes in 14 major cities in Louisiana, South Carolina, Florida, and Texas are at severe or extreme risk from hurricane winds.
- The analysis highlights the impact of climate risks on property values, insurance costs, and market stability.
