More than one in four U.S. homes — valued at $12.7 trillion — are exposed to severe or extreme climate risks, according to a report released Tuesday by Риэлтор.com.
The analysis found that threats from flooding, hurricane winds and wildfires are increasingly reshaping housing markets, homeowner costs and страхование availability.
“Climate risks are no longer a distant threat for U.S. housing — they are a present reality that put a large chunk of U.S. real estate value at risk,” said Danielle Hale, chief economist at Realtor.com. “In many markets, the gap between perceived risk and actual risk is sizable, particularly for flooding. This has significant consequences for homeowners, buyers, and insurers.”
Homes at risk of flooding
Nearly 6 million homes worth $3.4 trillion are likely to experience severe or extreme flooding over the next 30 years, according to data from First Street’s Flood Factor.
That is about 2 million more homes than those identified in FEMA’s Special Flood Hazard Areas, the отчет сказал.
The Miami-Fort Lauderdale-West Palm Beach, Fla., and New York-Newark-Jersey City, N.Y.-N.J., metros account for just over $600 billion worth of homes under severe or extreme flood risk.
The largest dollar-value gaps between ФЕМА maps and severe risk estimates are in New York ($95.3 billion), Los Angeles ($65.6 billion) and San Francisco ($54.9 billion).
By share of value, New Orleans leads with 66% of its housing stock at risk but not captured by FEMA maps.
New Orleans overall at-risk housing stock share of 89% tops the nationwide rankings and nearly doubles second place results from Cape Coral-Fort Myers, Fla.
Hurricane wind risk
Roughly 18.3% of U.S. homes — valued at nearly $8 trillion — face severe or extreme wind damage risk in 2025, the report said.
In 14 major metros across Louisiana, Florida, South Carolina and Texas — including Miami, Houston and New Orleans — every home is exposed.
Because flood and wind risks often overlap, coastal homeowners face compounded financial burdens.
High hurricane deductibles add to the strain, with some policies requiring as much as $20,000 in damage before coverage begins.
Wildfire risk
About 5.6% of homes, worth $3.2 trillion, face severe лесной пожар risk.
California accounts for nearly 40% of that exposure — or $1.8 trillion. Los Angeles and Riverside are among the hardest-hit areas.
Outside California, risk is elevated in Colorado Springs, Colo., where more than three-quarters of home value is vulnerable, and Tucson, Ariz., where 60% of housing stock is at risk.
Insurance strain
Rising insurance premiums are amplifying affordability challenges in high-risk areas.
Miami homeowners now pay annual premiums equal to 3.7% of their home’s market value, the highest ratio among the 100 largest metros.
New Orleans follows at 3.6% and Cape Coral, Fla., at 2.2%.
“Climate risk and insurance are not usually a top consideration for home shoppers balancing budgets against still-high home prices and mortgage rates,” Hale said. “But these factors already shape ongoing housing costs and increasingly whether they can secure affordable insurance coverage.”
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