TechDogs-"CoreLogic: Hurricane Idalia Threatens More Than 800,000 Homes Along Florida Gulf With"

Data Management

CoreLogic: Hurricane Idalia Threatens More Than 800,000 Homes Along Florida Gulf With

By Business Wire

Business Wire
Overall Rating

Reconstruction cost value of all homes in the August 29, 2023 areas of peak surge totals more than $238 billion

IRVINE, Calif.--(BUSINESS WIRE)--#climaterisk--CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released data analysis showing 808,321 single-family and multifamily homes along the Florida gulf coast with a reconstruction cost value (RCV) of approximately $238.4 billion are at potential risk of storm surge damage from Hurricane Idalia. These figures assume Hurricane Idalia makes landfall as a Category 3 hurricane and are based on the August 29, 2023 National Hurricane Center 5 a.m. E.T. forecast.

“Due to the sparsely populated forecasted impact area, there will likely be a lower insured loss ceiling from Idalia, compared to last year’s Hurricane Ian,” said Jon Schneyer, Director of Catastrophe Response, CoreLogic. “Even so, systems that make landfall along the Gulf Coast are likely to generate a more substantial storm surge than equivalent storms that hit the Atlantic Coast. As such, Hurricane Idalia is expected to bring hurricane-force winds, catastrophic storm surge of up to 15 feet, and widespread inland flooding across Florida and the southeastern U.S.”

More on the storm surge risk figures

The chart is a breakdown of the residential single family and multi-family homes at risk of storm surge damage. As Hurricane Idalia approaches Florida, its path will become more certain and the below metropolitan areas at risk will narrow. For the most up-to-date storm surge exposure estimates, visit the CoreLogic natural hazard risk information center, Hazard HQ Command Central™ at www.hazardhq.com/.

The table indicates a subset of the total 808,321 buildings. A damaged structure may not sustain 100% loss up to the full RCV. The RCV figures presented above represent the cost of completely rebuilding the existing residential structure. The RCV amount includes the costs of materials, equipment and labor, but does not include the value of the land or lot.

Hurricane-driven storm surge can cause significant property damage when high winds and low-pressure cause water to amass inside the storm, releasing a powerful rush over land when the hurricane moves onshore. For a complete view of total storm surge risk for all Atlantic and Gulf Coast states metropolitan areas, download the 2023 CoreLogic Hurricane Risk Report.

Methodology

CoreLogic offers high-resolution location information solutions with a view of hazard and vulnerability consistent with the latest science for more realistic risk differentiation. The high-resolution storm surge modeling using 10m digital elevation model (DEM) and parcel-based geocoding precision from PxPoint™ facilitates this realistic view of risk. Single-family residential structures less than four stories, including mobile homes, duplexes, manufactured homes and cabins (among other non-traditional home types) are included in this analysis. Multifamily residences are also included. This is not an indication that there will be no damage to other types of structures, as there may be associated wind or debris damage and are not tabulated in this release.

Source: CoreLogic

The data provided are for use only by the primary recipient or the primary recipient's publication or broadcast. This data may not be resold, republished or licensed to any other source, including publications and sources owned by the primary recipient’s parent company without prior written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data is illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website. For questions, analysis or interpretation of the data, contact newsmedia@corelogic.com. Data provided may not be modified without the prior written permission of CoreLogic. Do not use the data in any unlawful manner. This data is compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.

About CoreLogic

CoreLogic is a leading provider of property insights and innovative solutions, working to transform the property industry by putting people first. Using its network, scale, connectivity and technology, CoreLogic delivers faster, smarter, more human-centered experiences, that build better relationships, strengthen businesses, and ultimately create a more resilient society. For more information, please visit www.corelogic.com.

CORELOGIC, the CoreLogic logo, PxPoint and Hazard HQ are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.


Contacts

Robin Wachner
CoreLogic
newsmedia@corelogic.com

First published on Wed, Aug 30, 2023

Liked what you read? That’s only the tip of the tech iceberg!

Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!

Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.

Dive into TechDogs' treasure trove today and Know Your World of technology like never before!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

CoreLogic® Analytics And Data-Enabled Solutions Provider Digital Elevation Model (DEM)

References:

Join The Discussion

  • Dark
  • Light