Summary
Almost half of American homeowners are thinking about moving because of the increasing risk of extreme weather events, according to a study by Kin. Many homeowners are worried about natural disasters and rising home insurance costs, which have been increasing faster than inflation. This concern is particularly significant in disaster-prone states like Florida and California.
Key Facts
- 49% of American homeowners are considering moving due to the risk of extreme weather events.
- 93% of homeowners expect extreme weather events to damage their homes in the next three years.
- From 1980 to 2024, the U.S. experienced 403 weather and climate disasters, each causing at least $1 billion in damage.
- Home insurance premiums have increased almost 70% across the U.S. in the past five years.
- 80% of homeowners expect home prices and maintenance costs to rise further by 2026.
- 49% say home insurance costs heavily influence their home buying decisions.
- Many homeowners are avoiding states like Florida and California due to climate risks.
