The 10 cities could lose $34b+ in housing to coastal floods by 2050

Within three decades more than 386,000 homes in coastal areas of the U.S. will be at risk of permanent submersion or regular flooding due to climate change, according to a recent study by real estate website Zillow and nonprofit weather news site Climate Central.

About 40 percent of the American population may be affected to some degree. Those residences are collectively worth nearly $210 billion in 2018 dollars, according to Zillow; in the top 10 cities likely affected, losses could total more than $34 billion. Things look even more grim further out in time: By 2100 some 2.5 million homes nationwide, worth about $1.3 trillion altogether, could be at risk if the scientific data and resulting computer models are correct.

  1. San Mateo, CA

Total value of housing in risk zone: $11,926,104,726 (By 2100: $14,592,425,181)
Share of housing in risk zone: 34.2 percent (By 2100: 41.6 percent)
Housing count in risk zone: 8,951 (By 2100: 10,890)
Share of total housing value in risk zone: 28 percent (By 2100: 34.3 percent)

2, Newport Beach, CA

Total value of housing in risk zone: $5,276,358,560 (By 2100: $16,237,386,190)
Share of housing in risk zone: 6.4 percent (By 2100: 18 percent)
Housing count in risk zone: 1,861 (By 2100: 5,205)
Share of total housing value in risk zone: 6.6 percent (By 2100: 20.2 percent)

6. Long Beach, CA

Total value of housing in risk zone: $2,169,035,241 (By 2100: $6,924,518,935)
Share of housing in risk zone: 1.7 percent (By 2100: 5.8 percent)
Housing count in risk zone: 1,580 (By 2100: 5,284)
Share of total housing value in risk zone: 3.5 percent (By 2100: 11.2%)

8. Stockton, CA

Total value of housing in risk zone: $1,696,419,875 (By 2100: $5,441,951,253)
Share of housing in risk zone: 5.9 percent (By 2100: 22 percent)
Housing count in risk zone: 4,415 (By 2100: 16,552)
Share of total housing value in risk zone: 7.3 percent (By 2100: 23.4 percent)

read more at: https://www.cnbc.com/2019/03/14/10-cities-could-lose-34-billion-in-housing-to-coastal-floods-by-2050.html

Disclaimer: for information and entertainment purposes only

 

 

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