How climate risks for San Diego homes compare nationwide
Add Axios as your preferred source to
see more of our stories on Google.
Just over 17% of homes in San Diego County face severe or extreme risk of fire damage, according to a Realtor.com analysis.
- The total value of those homes is more than $155 billion.
Why it matters: Climate change is intensifying extreme weather — hiking home insurance premiums 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.
Zoom in: Flood risks, in particular, are "largely underestimated," per the analysis, which looks at data from First Street.
- About 2% of San Diego County homes, worth $17.9 billion, are at risk of severe and extreme flood damage, per the report.
State of play: The estimated insurance premium for a typical home in San Diego County is $3,133, according to the data.
The bottom line: "Understanding climate risk in the housing market is essential, as these challenges not only affect residential safety but also influence property values, insurance costs, and overall market stability," Realtor.com economist Jiayi Xu wrote in the report.