CoreLogic Ranks Riskiest US Housing Markets Based on Natural-Disaster Probability

CoreLogic’s Climate Risk Analytics solution finds that properties exposed to hurricanes and floods are at the most risk for natural-disaster damages, both now and through 2050

IRVINE, Calif.--(BUSINESS WIRE)--CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, has announced the results of its riskiest places to live for natural disasters study. With exposure to hurricanes and inland floods Plaquemines Parish, Louisiana, emerged as the riskiest place for property owners due to damages from natural disasters. Areas on or near the U.S. Gulf Coast are particularly vulnerable to potential catastrophe damages, both currently and in the future.

CoreLogic’s Climate Risk Analytics: Composite Risk Score (CRA Composite Risk Score) identifies U.S. areas that are currently at risk and stress-tests natural disaster risks over the next 30 years across various future climate scenarios. These scenarios include a base where conditions do not change; a progressively worsening climate is noted as “Scenario 8.5,” RCP (Representative Concentration Pathways) and is an example of what could happen in the future. The RCP 8.5 projections in this report include climate-related risks to residential properties, assuming that carbon-dioxide emissions continue to rise throughout the 21st century.

CoreLogic analyzes natural perils and applies the company’s analytics to its extensive property data to provide deep insights into natural hazards, climate risks and the resulting impacts on the property landscape. As a result, the top 10 places most at risk for property damage from natural disasters in 2023 are:

1. Plaquemines, Louisiana — (Primary Risks: Hurricane, Inland Flood)
2. Jefferson, Louisiana — (Primary Risks: Hurricane, Inland Flood)
3. Monroe, Florida — (Primary Risk: Hurricane)
4. McMullen, Texas — (Primary Risk: Inland Flood)
5. Orleans, Louisiana — (Primary Risk: Hurricane)
6. Lincoln, West Virginia — (Primary Risk: Inland Flood)
7. Camas, Idaho — (Primary Risk: Wildfire)
8. Van Buren, Iowa — (Primary Risk: Inland Flood)
9. Crockett, Texas — (Primary Risk: Inland Flood)
10. Carter, Missouri — (Primary Risk: Inland Flood)

In examining progressively worsening climate conditions, (Scenario 8.5) the riskiest places in 2050 do not change drastically:

1. Plaquemines, Louisiana — (Primary Risk: Hurricane)
2. Jefferson, Louisiana — (Primary Risk: Hurricane)
3. Monroe, Florida — (Primary Risk: Hurricane)
4. Orleans, Louisiana — (Primary Risk: Hurricane)
5. Camas, Idaho — (Primary Risk: Wildfire)
6. Saint Bernard, Louisiana — (Primary Risk: Hurricane)
7. McMullen, Texas — (Primary Risk: Inland Flood)
8. Cameron, Louisiana — (Primary Risk: Hurricane)
9. Hancock, Mississippi — (Primary Risk: Hurricane)
10. Lincoln, West Virginia — (Primary Risk: Inland Flood)

Methodology:

This analysis considers the impactful environmental risks to 154 million properties across the U.S. and is built on CoreLogic’s comprehensive data that details the physical characteristics of those homes, including construction year, first-floor height, number of stories and square footage. Although historic events provide some indication of where natural hazard risks may be high, evolving climate change necessitates comprehensive, forward-looking data to clearly identify where such risks are the highest. The county-level CRA Composite Risk Scores were used for this study. These scores represent the reconstruction cost value-weighted Composite Risk Scores for the single-family residences within each county. More insights can be found here.

Source: CoreLogic

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About CoreLogic

CoreLogic 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.

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