More Than 163,000 Homes with a Reconstruction Value of $37.5 Billion at Risk of Property Damage from Hurricane Arthur Storm Surge
July 3rd, 2014
The data shows 163,274 total residential properties with a reconstruction value of $35,734,348,993 are in the area currently known as the "cone of uncertainty" and at risk of potential storm-surge damage, assuming Hurricane Arthur hits the coast as a Category 1 hurricane.
Says Dr. Tom Jeffery, senior hazard scientist for CoreLogic Spatial Solutions:
On its current forecasted track, Arthur is aiming for the Carolinas on a projected path along the East Coast and will likely make landfall today. It's unfortunate that the first official hurricane of the season is happening on such a big holiday weekend, and residents are advised to be aware and take watches and warnings seriously. Although Arthur is classified as a Category 1 storm, strong winds, heavy rain and rip currents caused by storm surge may have far-reaching effects into New England and even Canada.
Total number and total reconstruction value of residential properties by projected affected CBSA are:
|CBSA||Number of Homes||Reconstruction Cost|
|Elizabeth City, NC||5,015||988,121,561|
|Kill Devil Hills, NC||9,745||2,138,749,416|
|Morehead City, NC||13,470||2,636,637,926|
|Myrtle Beach-Conway-North Myrtle Beach, SC-NC||23856||4532276306|
|New Bern, NC||6,818||1,231,681,635|
|Virginia Beach-Norfolk-Newport News, VA-NC||84,717||19,833,426,716|
Hurricane-driven storm-surge flooding can cause significant property damage when high winds and low pressure cause water to amass inside the storm, releasing a powerful rush over land when the hurricane moves onshore. This exclusive CoreLogic analysis measures exposure to damage from storm surge and does not include potential damage from wind and rain associated with hurricanes.