Zillow is flagging the climate risk of Richmond homes
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Mindful of increasing risks from extreme weather events, Zillow recently added climate risk scores to its home listings.
Why it matters: Most Richmond homes have some risk now, and increasingly will in the future, of possible damage due to high winds or extreme heat, per a review of listings.
The big picture: Zillow rolled out climate risk scores late last month. Realtor.com integrated similar weather-related risk factors in its listings earlier this year.
- A Realtor.com report found nearly 45% of U.S. homes face the risk of severe or extreme damage from environmental threats.
- A Zillow survey found 80% of buyers now consider climate risk when looking for a home.
- The move comes as climate change-related trends in extreme weather events are helping push up the cost of homeowners insurance.
Zoom in: Zillow partnered with climate risk company First Street to include scores on a house's potential risk factors for flooding, wildfires, high winds, extreme heat and poor air quality.
🌡️ Extreme heat is the greatest climate risk for Richmond homes, with First Street scoring most Richmond homes a 7 or 8 out of 10 based on the number of days when the feels-like temperature is 107 degrees or higher.
- This year, Richmond had 7 of those days; First Street estimates that will increase by 129% over the next 30 years.
- Extreme heat can strain a home's HVAC system as well as damage roofs, patios and retaining walls, according to Realtor.com.
💨 High wind risk for Richmond homes comes in as a 6 out of 10, per First Street.
- High winds are usually driven by hurricanes and tropical storms and apply to wind speeds of 51 mph or higher.
- Most Richmond homes have a 27% chance of experiencing severe windstorms over the next 30 years, up from 1% this year.
Most Richmond homes scored a 1 or 2 for the rest of the climate risk factors, with the exception of listings in flood-prone areas like Shockoe Bottom.
- Most Shockoe listings have a 7 out of 10 flood risk.
Threat level: Only around 5% of Virginia homes have flood insurance, a percentage largely driven by coastal properties, according to NBCNews.
- It's less than 1% for most of the rest of the state, including Southwest Virginia where flooding from Hurricane Helene last month damaged more than 500 homes and nearly 100 businesses.