U.S. Houses Facing Increased Flood Risk Overvalued by as Much as $237 Billion, Study Says

Housing markets are failing to price in climate risks in their assessment of housing values, according to a recent study published by Nature.

1 minute read

March 3, 2023, 8:00 AM PST

By James Brasuell @CasualBrasuell


Sandbags in a flood with flooded buildings in background

Marc Bruxelle / Flood

A study recently published by the journal Nature finds that U.S. residential properties exposed to flood risk are overvalued by between $121 billion and $237 billion.

The number of homes in the United States at risk of flooding, especially as extreme weather becomes more frequent as a result of climate change, accounts for some of that risk, according to the study. “Currently, more than 14.6 million properties in the United States face at least a 1% annual probability of flooding, reads the abstract. The study assumes that climate change will increase that total by 11 percent.

The journal article, authored by Jesse D. Gourevitch, Carolyn Kousky, Yanjun (Penny) Liao, Christoph Nolte, Adam B. Pollack, Jeremy R. Porter, and Joakim A. Weill is available in full online.

Thursday, February 16, 2023 in Nature

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