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2013 CoreLogic Storm Surge Report Estimates 4.2 Million U.S. Homes Valued At An Estimated $1.1 Trillion At Risk Of Hurricane Storm-Surge Damage

Stocks in this article: CLGX

Important to note is that the total properties and structural values included in the CoreLogic analysis are based on all homes that could potentially be damaged from hurricane-driven storm surge, and are not meant to infer that a single storm or storms in a specific hurricane season will result in these damage totals. 

Additional Core Based Statistical Area (CBSA)-level data, including the top ten zip code areas at risk associated with each CBSA, as well as maps detailing storm-surge risk, are available upon request.

For a complete copy of the 2013 CoreLogic Storm Surge Report, visit http://www.corelogic.com/about-us/researchtrends/storm-surge-report.aspx.

MethodologyCoreLogic generated the Storm Surge Report using the company's extensive ParcelPoint ® database of property parcels to identify the homes that fall within the perimeter of each category of the storm-surge inundation to create a risk polygon. The risk polygons result from modeling potential surge for simulated hurricane events. A risk polygon is constructed for each hurricane category and defines the land area susceptible to the surge expected for each storm category. A parcel is the individual property associated with an address, and is the most granular way to analyze properties exposed to natural hazards. The storm-surge risk polygons are combined with the property parcel boundaries so that each parcel can be evaluated individually to determine the storm surge risk for that property.

To determine residential exposure value, the proprietary CoreLogic storm-surge model was paired with residential structure valuations determined using the company's automated valuation model (AVM) data. CoreLogic identified every property contained within each category of the storm surge inundation areas, and matched the structure valuation for each residence identified. Valuations for individual geographic areas were then totaled by hurricane category. The final results depict the total number of residential properties exposed to each potential storm-surge event, as well as the total current value of those properties.

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