10 states where property is at the lowest risk

As Hurricane Helene’s devastating toll rises to at least 215 dead, with thousands still missing, homeowners across the country are taking a hard look at where they live and the risks they face.

According to data released by Realtor.com, more than 730,000 homes remain without power a week after the storm, prompting many Americans to consider safer ground for their next move.

The scale of extreme weather in 2024 was unprecedented. According to the report, natural disasters have caused more than $25 billion in damages nationwide this year alone. Climate change has caused a 20% increase in global flooding since 2000, while the area burned by US fires has increased 320% since 1996.

Don’t miss:

For homeowners seeking refuge from nature’s fury, Realtor.com has identified the top 10 states with the lowest risk of extreme weather damage:

1. Nevada leads the way with 90.6 percent of the lowest-risk homes, representing $440.4 billion in property value.

2. Nebraska follows at 90.2 percent, albeit with a lower total property value of $159 billion.

3. Colorado ranks third at 89.5 percent, with more than $1 trillion in low-risk property.

4. Kansas ranks fourth, with 88.8 percent of homes in safe zones.

5. Minnesota rounds out the top five at 88.5 percent.

See also: This Jeff Bezos-backed startup will let you become an owner in just 10 minutes and you only need $100.

Iowa, Washington, Ohio, South Dakota and Missouri round out the list, all with more than 87 percent of homes in low-risk areas.

“Hurricanes present substantial challenges to homeowners, including property damage, increased financial costs, community recovery issues and emotional stress,” said Realtor.com economist Jiayi Xu. “Opting for property in states with lower hurricane risk can help alleviate these concerns.”

Trends: Commercial real estate has historically outperformed the stock market and this platform allows individuals to invest in commercial real estate with as little as $5,000, offering a target return of 12% with a bonus 1% return boost today!

The impact of extreme weather extends beyond immediate damage. Insurance premiums have skyrocketed in high-risk areas, with some Florida homeowners dropping coverage. Each region faces challenges: the west is battling wildfires, while the southeast is battling floods. Cities like Austin, Baton Rouge and Coral Gables are experiencing extreme heat damage to property.

The story continues

For those considering relocation, Xu suggests using a real estate agent’s environmental risk scores to evaluate potential homes. “Prospective homeowners can use these scores to identify safer locations before making a final decision,” she notes.

Trends: These Five Entrepreneurs Are Worth $223 Billion – they all believe in one platform that offers a target return of 7-9% with monthly dividends

The reality remains. According to data released by Universal Property Insurance Company, Florida has endured 120 hurricanes since 1851, with 37 reaching Category 3 or higher. Texas follows with 64 hurricanes, while North Carolina — surprisingly, the most hurricane-prone outside the Gulf Coast — has endured 55.

As recovery efforts from Helene continue, Florida is bracing for another hurricane, Milton, which could make landfall on Wednesday. Now, it appears that the broader conversation is shifting to long-term safety and resilience. For many Americans, the next move may not just be about finding a home, but also about finding a refuge.

Read on:

UNLOCKED: 5 NEW TRANSLATIONS PER WEEK. Click now to get top trading ideas dailyplus unlimited access to state-of-the-art tools and strategies to gain an edge in the markets.

Get the latest stock analysis from Benzinga?

This article Hurricane Helene’s destruction sparks the search for safety: 10 states where property is at the lowest risk originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.