CoreLogic: 759K Homes, $170B in Reconstruction Value at Risk from Florence Storm Surge

September 11, 2018

Nearly 759,000 homes with a reconstruction cost value (RCV) of approximately $170.2 billion are at potential risk of storm surge damage from Hurricane Florence based on its Category 4 status, CoreLogic said in an analysis released late Monday.

With projections showing it is likely Hurricane Florence could exceed a Category 4 storm, the Hazard Report’s data analysis shows that 758,657 homes in North Carolina, South Carolina and Virginia are at risk from hurricane-driven storm surge, which can cause significant property damage when high winds and low pressure cause water to amass inside the storm, releasing a powerful rush over land when the hurricane moves onshore.

CoreLogic detailed the total number of properties at risk of storm surge for each of the five hurricane categories, as well as their accompanying RCV totals, for the Core-Based Statistical Areas (CBSAs) located along the North Carolina, South Carolina and Virginia coasts that could potentially be affected.

Total Number and RCV of Residential Properties

CoreLogic’s high-resolution storm surge modeling uses 10m digital elevation model (DEM) and parcel-based geocoding precision from PxPoint to facilitate this view of risk. Single-family residential structures less than four stories, including mobile homes, duplexes, manufactured homes and cabins (among other non-traditional home types) are included in this analysis. This is not an indication that there will be no damage to other types of structures, as there may be associated wind or debris damage and are not tabulated in this release.

2018 CoreLogic Storm Surge Report

Source: CoreLogic

Topics Hurricane Windstorm Homeowners

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