Residential Real Estate News
Hurricane Idalia Threatens 800,000 Homes Along Florida's Gulf Coast
Storm surge heights up to 15 feet predicted at landfall
Based on new data from CoreLogic, there are 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. ET 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."
