Nearly half of all homes in the United States are at risk of suffering severe or extreme damage caused by climate change, a new study found.
Across the nation, roughly 44.8% of residential properties are threatened by "at least one type of severe or extreme climate risk" such as flooding, high winds, wildfires, heat, or poor air quality, according to a newly released study from Realtor.com. That represents nearly $22 trillion of property value.
The study also found that 40.4% of homes, worth a total of $19.7 trillion, are at severe or extreme risk when it comes to heat, wind, and air quality.
"These natural disasters can destroy homes and communities," Realtor.com said in a separate release. "Even properties that aren't directly affected by climate risks are being affected by higher insurance premiums - threatening potential sales and making homeownership increasingly more expensive."
Where Are Homes Most at Risk?
Homes located in Miami, Florida, face the most substantial risk of damage caused by heat exposure, hurricane wind, and flood. Homes in San Francisco, California, hold the highest total value of homes at severe or extreme air qualify risk, the report noted.
Los Angeles, California, meanwhile, sees the highest total value of homes at severe or extreme risk of damage caused by wildfires. Six of the 10 largest wildfires in California history have occurred between 2020 and 2024, per Reuters. This includes the August Complex fire that lasted 86 days. The fire burned nearly 1 million acres of land and damaged 935 buildings statewide.
Realtor's Climate Risk Feature
Following its report, Realtor.com announced it will add features on its website that will provide home buyers with the heat, wind, and air quality risks associated with each listing. Currently, listings only show a property's fire and flood risks.
The real estate firm will leverage data from climate technology company First Street for its new tool. The feature will score a property's risk factor for heat, wind, and air using a 1 to 10 scale. It will also show the expected change for each risk in 15 and 30 years, per HousingWire.
