Underwater: Rising Seas, Chronic Floods, and the Implications for US Coastal Real Estate
Along nearly 13,000 miles of coastline of the contiguous United States, hundreds of thousands of buildings lie in the path of rising seas: schools, hospitals, churches, factories, homes, and businesses. As sea levels rise, persistent high-tide flooding of homes, yards, roads, and business districts will begin to render properties effectively unlivable, and neighborhoods—even whole communities— nancially unattractive and potentially unviable.
Yet property values in most coastal real estate markets do not currently reflect this risk. And most homeowners, communities, and investors are not aware of the nancial losses they may soon face.
This analysis estimates the number of homes and commercial properties throughout the coastal United States that will be put at risk from chronic, disruptive flooding—defined as flooding that occurs 26 times per year or more (Dahl et al. 2017; Spanger-Siegfried et al. 2017)—in the coming decades.