In an examination of 9.2 million real estate transactions across eight coastal states, the First Street Foundation has determined that flood risk has erased nearly $7 billion in potential home value appreciation for home owners in New York, New Jersey and Connecticut since 2005.
Over the same period, a total of $7.4 billion in potential home value appreciation has been lost across Florida, Georgia, South Carolina, North Carolina and Virginia, bringing the total loss for all eight states to $14.1 billion.
That said, values still grew during the last decade in many areas covered in the report, even if they lagged behind relative to some other locations. Resiliency measures such as elevating homes and building sea walls can help guard against many of the risks, say developers and some local officials.
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