Residential Real Estate News
Hurricane Ian Threatens Over 1 Million Florida Homes With Storm Surge Damage
Reconstruction cost value of all homes in cone of uncertainty totals nearly $258 billion
According to property data company CoreLogic, there are 1,044,412 single-family and multifamily homes along the Florida Gulf Coast with a reconstruction cost value (RCV) of approximately $258.3 billion that are at potential risk of storm surge damage from Hurricane Ian.
"Hurricane Ian has all the ingredients you need for a bad storm surge event," said Dr. Tom Jeffery, senior hazard scientist, CoreLogic. "Due to Hurricane Ian's slower speed and rapid intensification in the eastern Gulf of Mexico, the threat of a widening wind field bringing damaging storm surge increases each day. Many homes along Florida's western coast are at risk of storm surge inundation regardless of where the storm makes landfall, and even more homeowners will contend with heavy rainfall and hurricane-force winds throughout midweek."
These figures assume Hurricane Ian makes landfall as a Category 4 hurricane and are based on the Sept. 26, 2022 National Hurricane Center 11 a.m. E.T. forecast.
