Billions worth of Pittsburgh properties at risk of flood damage
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Nearly 7% of homes in the Pittsburgh metro area face severe or extreme risk of flood damage, according to a Realtor.com analysis.
Why it matters: Climate change is intensifying extreme weather — hiking home insurance premiums in especially storm-prone areas and driving some insurers to retreat.
The big picture: Nationwide, roughly 6.1% of homes (worth around $3.4 trillion) are at severe or extreme risk of flood damage, 18.3% ($8 trillion) from hurricane wind damage, and 5.6% ($3.2 trillion) from fire.
State of play: The estimated insurance premium for a typical home in the Pittsburgh area is $1,135, according to the data.
Zoom in: Flood risks, in particular, are "largely underestimated," per the analysis, which looks at data from First Street.
- About $15.5 billion worth of Pittsburgh-area properties is at risk of severe and extreme flood damage, per the report.