Trillions of dollars worth of homes in the United States face major risk of damage from weather events and natural disasters. A new Zillow analysis found that at least $17 trillion worth of homes are at major wind risk, while $9.1 trillion are in significant jeopardy for fire and $7 trillion worth of homes are at risk of major flooding.
Zillow’s study revealed that 11 metro areas have at least $100 billion of residential real estate that faces major fire risk, six of which are in California. Los Angeles has the highest total value of homes that fit this category ($831 billion), driven by a higher average home value of $1.6 million, the highest of any major metro. Phoenix and Dallas have significantly more homes vulnerable to fires, but the total value of danger in those markets is not as high.
New York City is the market most susceptible to flood damage at $593 billion, followed by Miami at $580 billion. No other major metro exceeds $300 billion worth of homes in danger of floods, according to Zillow.
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