The fact that the New York metro area is so densely populated with a high number of structures, the report explains, makes it "significantly more susceptible to irreversible damage from hurricanes" than lesser-populated coastal areas. (Credit: EvgeniyQW/Adobe Stock)
The NOAA predicts the United States will see a pretty average hurricane season as far as the number of storms are concerned in 2023 – predicting 12-17 named storms, 5-9 hurricanes and 1-4 major hurricanes. However, climate change is shifting the impacts of these storms further inland, and it has led to an increase in the number of homes at risk of damage from hurricanes.
CoreLogic recently released their 2023 Hurricane Risk Report, which identified more than 32 million single-family residences and about 1 million multi-family residences that are at moderate or greater risk of damage from hurricane-force winds. These structures have a combined reconstruction cost value (RCV) of $11.6 trillion. Around 7.8 million of these homes have either direct or indirect coastal exposure, which leaves them vulnerable to flooding from storm surge.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
