CoreLogic Analysis Shows an Estimated 8.5 Million Properties in Florida at Significant Risk of Potential Wind Damage from Hurricane Irma

—Approximately 3.5 Million Properties at Potential Risk of Storm Surge Damage—

IRVINE, Calif.--()--CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released data analysis which shows that an estimated 8,456,455 residential and commercial properties in Florida are at either “Extreme,” “Very High” or “High” risk of wind damage from Hurricane Irma. CoreLogic storm surge analysis shows that an estimated 3,494,735 residential and commercial properties in Florida are at risk of hurricane-driven storm surge damage. Neither analysis includes potential damage from inland flooding.

Table 1 shows the estimated number of residential and commercial properties at risk of wind damage for both Florida and select Core Based Statistical Areas (CBSAs). Table 2 shows the estimated number of residential and commercial properties at risk of storm surge damage from Hurricane Irma for the state and the same CBSAs.

Storm surge occurs when water is pushed toward the shore through the force of powerful winds associated with cyclonic storms. High winds and low pressure created by a storm causes water to accumulate at its center, and as it moves across the ocean, the strong winds inside the hurricane act as a plow, causing water to pile up along the front of the storm.

Table 1: Estimated Number of Residential and Commercial Properties at Risk of Wind Damage from Hurricane Irma
Data in Tables 1 and 2 should not be combined to calculate totals as these are independent CoreLogic peril analyses and property duplication can occur.

CoreLogic
Data

   

Extreme

    Very High     High    

Moderate

   

Low

Florida     2,658,005     3,393,312     2,405,138     854,238     11,586

CBSA

                             
Cape Coral-Fort Myers     85,402     36,039     401,004     0     0
Crestview-Fort Walton Beach-Destin     3     68,527     0     29,294     0
Deltona-Daytona Beach-Ormond Beach     7     88,419     171,942     1     0
Gainesville     2     1     9,028     96,015     0
Jacksonville     15     277     187,777     437,763     3,828
Key West     26,117     29,406     0     0     0
Lakeland-Winter Haven     7     320,052     41     19     0
Miami-Fort Lauderdale-Pompano Beach     2,202,056     32     316     0     0
Naples-Marco Island     7,069     211,011     98     0     0
North Port-Bradenton-Sarasota     53     31,102     411,534     0     0
Ocala     21     136,124     24,041     704     0
Orlando-Kissimmee-Sanford     3     448,287     459,060     4     0
Palm Bay-Melbourne-Titusville     6,472     139,893     136,933     0     0
Palm Coast     0     62,521     9,070     0     0
Panama City-Lynn Haven-Panama City Beach     0     111,056     0     0     0
Pensacola-Ferry Pass-Brent     10,077     203,261     3,381     8,544     0
Port St. Lucie     234,597     30     57     0     0
Punta Gorda     0     1     205,616     0     0
Sebastian-Vero Beach     86,012     3,643     0     0     0
Tallahassee     3     52,943     0     0     109,726
Tampa-St. Petersburg-Clearwater     1     1,148,059     79,401     0     0

Source: CoreLogic 2017.

Table 2: Estimated Number of Residential and Commercial Properties at Risk of Storm Surge Damage from Hurricane Irma
Data in Tables 1 and 2 should not be combined to calculate totals as these are independent CoreLogic peril analyses and property duplication can occur.

CoreLogic Data

   

Extreme (Affected by a Category 1-5 Storm)

   

Very High (Affected by a Category 2-5 Storm)

   

High

(Affected by a Category 3-5 Storm)

   

Moderate (Affected by a Category 4-5 Storm)

   

Low

(Affected by a Category 5 Storm)

   

Total Properties at Risk

Florida     455,505     888,654     864,333     702,407     583,836     3,494,735
CBSA                                    
Cape Coral-Fort Myers     57,855     189,137     128,073     57,300     52,099     484,464
Crestview-Fort Walton Beach-Destin     4,611     5,599     8,318     8,611     8,323     35,462
Deltona-Daytona Beach-Ormond Beach     1,760     16,634     38,481     43,412     15,000     115,287
Gainesville     0     43     465     634     515     1,657
Jacksonville     10,859     36,149     63,442     42,709     60,139     213,298
Key West     16,917     23,050                       54,360
Lakeland-Winter Haven     0     0     0     0     0     0
Miami-Fort Lauderdale-Pompano Beach     82,344     149,120     209,417     227,882     226,057     894,820
Naples-Marco Island     24,774     102,232     76,667     7,414     1,645     212,732
North Port-Bradenton-Sarasota     28,536     59,662     86,255     103,249     54,534     332,236
Ocala     2     1     3     5     23     34
Orlando-Kissimmee-Sanford     0     0     0     0     0     0
Palm Bay-Melbourne-Titusville     11,565     25,354     22,570     16,430     15,778     91,697
Palm Coast     1,248     9,957     5,414     4,322     3,844     24,785
Panama City-Lynn Haven-Panama City Beach     465     5,056     14,448     14,427     16,312     50,708
Pensacola-Ferry Pass-Brent     2,079     9,445     13,259     9,770     10,784     45,337
Port St. Lucie     12,720     8,621     8,484     7,957     19,997     57,779
Punta Gorda     64,020     83,391     32,878     23,009     1,006     204,304
Sebastian-Vero Beach     6,016     7,646     5,896     6,598     12,129     38,285
Tallahassee     2,427     3,008     7,399     7,166     2,811     22,811
Tampa-St. Petersburg-Clearwater     105,551     125,591     114,308     103,776     70,231     523,457

Source: CoreLogic 2017.

Methodology

The analysis encompasses single-family residential structures less than four stories, including mobile homes, duplexes, manufactured homes and cabins, among other non-traditional home types. This does not infer that there will be no damage to residential units greater than four stories, as there may be associated wind or debris damage. However, including all high-rise residential units in the CoreLogic analysis would inaccurately inflate the number of homes at risk of storm surge flooding by including homes that are elevated above the potential for damage from surge waters.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries.

Contacts

CoreLogic
Lori Guyton, 901-277-6066
lguyton@cvic.com
or
Alexandra Hayes, 484-888-4412
ahayes@cvic.com

Release Summary

CoreLogic issues analysis indicating that 8.5M properties in Florida are at significant risk of potential wind damage from Hurricane Irma.

Contacts

CoreLogic
Lori Guyton, 901-277-6066
lguyton@cvic.com
or
Alexandra Hayes, 484-888-4412
ahayes@cvic.com