In a worst-case scenario, CoreLogic estimates reconstruction costs of nearly $144 billion
More than half a million homes along the east coast of Florida are at potential risk of storm surge damage in the wake of Hurricane Dorian, according to CoreLogic
CoreLogic determined the total number of homes exposed to storm surge damage in the path of the storm. It also measured the reconstruction cost value (RCV), which assumed 100% destruction of all at-risk homes, representing the worst-case scenario.
CoreLogic placed the RCV of over 668,000 single-family and multifamily homes at around $144.6 billion. The metro areas at risk in Florida included Deltona-Daytona Beach-Ormond Beach, Jackson, Palm Bay-Melbourne-Titusville, Miami-Fort Lauderdale-West Palm Beach, Port St. Lucie, and Sebastian-Vero Beach.
Overall, more than 7.3 million homes along the Gulf and Atlantic coasts are vulnerable to storm-surge damage, according to CoreLogic’s 2019 Storm Surge Report. Florida ranked as the top state with the most single-family homes at risk of a category-three status storm like Hurricane Dorian, with nearly 1.8 million homes at risk. Louisiana (637,354), New Jersey (381,551), New York (351,783), and Texas (259,993) followed.
New York has the most at-risk multifamily homes at 64,778. Florida was the second-most vulnerable with 54,403, followed by Massachusetts with 11,399, Louisiana with 7,223, and New Jersey 3,549.
