New York Metro Area at Risk for Hurricane Storm Surge Damage

Although scientific predictions suggest lower-than-normal storm activity for 2014, the risk of significant damage to homes is a constant threat. “Though the 2013 hurricane season will be remembered for the fact that no storms made landfall along the U.S. coast, this reprieve from hurricane-related damage should not lead to complacency in preparing for future storms and the potential life-threatening conditions they can bring,” said Dr. Thomas Jeffery, senior hazard scientist for CoreLogic Spatial Solutions. “This year’s season is projected to be slightly below normal in hurricane activity, but the early arrival of Hurricane Arthur on July 3 is an important reminder that even a low-category hurricane or strong tropical storm can create powerful riptides, modest flooding and cause significant destruction of property.

Florida topped the list for states with the highest number of homes at risk of storm surge damage, with nearly 2.5 million homes at various risk levels and $490 billion in total potential loss.

Additional findings include:

The five states with the highest total number of properties at risk are:

Florida (2,488,277)

Louisiana (738,165)

New York (466,919)

New Jersey (445,928)

Texas (434,421)

The five states with the highest value of reconstruction costs for homes at risk include:

Florida ($490,403,653,377)
New York ($182,474,294,695)
Louisiana ($161,062,467,382)
New Jersey ($134,194,963,314)
Virginia ($92,001,482,217)

Home reconstruction value in the Gulf is much less than the reconstruction value of homes in the Atlantic region. The total reconstruction cost value of homes along the Atlantic coast is nearly $951 billion, approximately double the value of at-risk properties in the Gulf region at just over $545 billion.