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Long Island faces potential $99B property damage, tops in study

A study of 10 U.S. metropolitan areas shows that Long Island would be hardest hit, in financial impact, by a hurricane storm surge flooding with $99 billion in potential damage. 

The study did not look at the possible number of lives lost, but looked primarily at flooding. 

In part due to high real estate prices, Long Island’s potential damage represented nearly one-third of the total for the 10 metropolitan areas, according to the CoreLogic report. 

The 10-region total possible damage was calculated at $300 billion. 

CoreLogic, a provider of consumer, financial and property information and business services, on Tuesday released a report detailing potential exposure to storm surge property damage in ten major urban areas along the U.S. Gulf and Atlantic Coasts. 

“Storm surge is triggered primarily by the high winds and low pressure associated with hurricanes, which cause water to amass inside a storm as it moves across the ocean and release as a powerful rush over land when the hurricane moves on shore,” CoreLogic said. 

Areas in the analysis include New Orleans, Mobile, Ala., Charleston, S.C.; Corpus Christi and Houston-Galveston, Tex.; Jacksonville, Tampa, and Miami-Dade, Fla.; Virginia Beach, Va., and Long Island. 

“Of the metro areas studied in the report, Long Island was found to have the highest exposure to risk, valued at $99 billion, followed by the Miami-Palm Beach region and Virginia Beach,” the study said.

Projected exposure to storm surge damage for the ten geographies is as follows:

Long Island, $99 billion
Miami-Dade $44.9 billion
Virginia Beach – $44.6 billion
New Orleans – $39 billion
Tampa – $27 billion
Houston – $20 billion
Jacksonville – $19.6 billion
Charleston – $17.7 billion
Corpus Christi – $4.7 billion
Mobile – $3 billion
 

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