Data and analytics firm CoreLogic Inc. said Tuesday its data analysis shows 1,044,412 single-family and multifamily homes along Florida’s coast with a reconstruction cost value of about $258.3 billion are at potential risk of storm surge damage from Hurricane Ian.
The forecasts assume Hurricane Ian makes landfall as a Category 4 hurricane and are based on the September 26, 2022 National Hurricane Center forecast issued at 11 a.m. ET, CoreLogic said.
The reconstruction cost figures assume 100% destruction of all homes at risk and are not representative of expected damage, CoreLogic said.
“Hurricane Ian has all the ingredients you need for a severe storm surge event,”; Tom Jeffery, senior risk researcher at CoreLogic, said in a statement.
Hurricane Ian’s slower speed and intensification across the Gulf of Mexico increases the threat of a widened wind field causing damaging storm surges, CoreLogic said.
Hurricane-driven storm surge can cause significant property damage when high winds and low pressure cause water to pool inside the storm, releasing a powerful rush over land as the hurricane moves ashore.