PROVIDENCE – Rhode Island ranked No. 17 on CoreLogic’s 2018 Storm Surge Report for both number of at-risk homes and reconstruction cost value of at-risk homes Thursday.
Rhode Island had 26,484 homes determined to be at risk for category 4 and 5 hurricane storm surge flooding damage. The cumulative reconstruction cost value of at-risk homes in Rhode Island would be $7.8 billion. The cost is based on total home reconstruction but excludes residential units more than four stories.
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The state had 17,312 homes at risk for a category 3 storm, with a reconstruction value of $5.1 billion, 8,153 at-risk homes for a category 2 storm surge (reconstruction cost of $2.4 billion) and 1,876 homes at risk for a category 1 storm surge (reconstruction value of $528.7 million). Specific category 5 storm damage was not calculated for Rhode Island.
Massachusetts ranked No. 9 in the report, with 157,898 homes at risk for a category 4 and 5 hurricane storm surge, with a total reconstruction value cost of $46.4 billion.
Florida ranked No. 1 overall for its risk with 2.3 million homes at risk for a category 4 and 5 storm surge, with an estimated reconstruction cost of $458.5 billion.
The report also noted the 2018 hurricane season, which is typically from June to November, is expected to be average with an estimated 12-14 named storms and six to seven hurricanes.
Overall, the report estimated there were 6.9 million homes at risk for storm surge damage along the Gulf and Atlantic coasts with a combined total reconstruction value of $1.6 trillion.
The report also noted the total reconstruction value assumes homes are completely destroyed and factors for construction material, equipment and labor costs, and it is more likely complete destruction does not occur and therefore would realistically be lower than the total cost number.
Recently, PBN wrote a three-part series on Rhode Island’s risk for flooding and storm surge damage.
Chris Bergenheim is the PBN web editor.
