The issue is already growing in urgency, as huge swaths of the country have been inundated by devastating floods in recent years.įlooding is now the most common and costly natural disaster in the US, causing some $155 billion in property damages in the last decade, according to Michael Grimm, the assistant administrator for risk management for the Federal Insurance and Mitigation Administration, who testified before the House Science Committee in February. The discrepancy between FEMA’s maps and this new data means that some 6 million property owners could be unaware of their current flood risk, the group says. Today, around 8.7 million properties are located in Special Flood Hazard Areas as determined by FEMA’s flood maps, the legal standard used in the US to manage floodplains, determine insurance requirements and price policy premiums.īut as many as 14.6 million properties – nearly 70% more than are in FEMA’s Special Flood Hazard Areas – may actually be at significant risk of flooding, according to First Street’s modeling. ![]() Those are the findings of a comprehensive new analysis by the First Street Foundation, a nonprofit research and technology group that experts say has put together the fullest picture yet of the country’s growing vulnerability to flooding. And as climate change accelerates, many more will see their flood risk grow. ![]() Millions more properties than previously known across the US are at substantial risk of flooding.
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