The metropolitan area has more than 700,000 homes at risk for hurricane damage, with a total reconstruction cost of $260 billion, a new report shows.

The region — which includes Nassau and Suffolk, 10 other New York counties, 12 counties in New Jersey and one in Pennsylvania — ranks first in the nation for the total value of homes at risk from storm surges, and second for the number of at-risk homes, California-based national data provider CoreLogic reported Wednesday.

The analysis breaks down risk into five levels, from low to extreme.

A color-coded map on CoreLogic’s website shows much of the South Shore of Long Island bordered in red, for the highest risk. Along the Island’s North Shore, the land around waterways such as the Nissequogue River and Stony Brook Harbor also is coded red.

Since superstorm Sandy struck in 2012, many Long Island homeowners have elevated their homes above 100-year flood levels and taken other steps to protect their property, such as adding flood vents, said Michael Raab, Sandy storm recovery liaison for Nassau County.

However, Raab said, many other homes remain at risk, since homeowners either cannot afford to elevate them or missed deadlines to get government funds to do so. In some areas along the county’s southern coast, Raab said, “you have some houses up and some houses down. It’s going to change the aesthetic look of the community, and it puts homeowners who don’t elevate at a disadvantage, both in terms of flood insurance rates and in their ability to sell their homes one day.”

Across the country, the only place with more homes vulnerable to hurricane damage than the New York region is the Miami area, which has more than 780,000 at-risk homes valued at nearly $144 billion. The Tampa and New Orleans regions rank third and fourth, with more than 450,000 and 390,000 at-risk homes, respectively.

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The report analyzed storm risk for homes along the Atlantic and Gulf coastlines across 19 states and the District of Columbia, as well as for 88 metropolitan areas. The sources it cites include the Federal Emergency Management Agency and the National Oceanic and Atmospheric Administration.