The 284,000 total properties at risk for storm-surge damage along the coastal Mid-Atlantic states are valued at almost $88 billion, according to a CoreLogic analysis released today.
In New York state, there are 81,078 residences, valued at $35 billion, predicted to incur damages from the Category 1 hurricane. The CoreLogic report measures only the damage from storm-surge flooding and does not include potential wreckage from wind and rain associated with hurricanes.
“On its current projected track, Sandy is likely to make landfall along the northeastern Atlantic coast early next week,” Dr. Howard Botts, vice president and director of database development for CoreLogic Spatial Solutions, said in a statement. “This is a large, slow-moving, persistent and dangerous storm. Its impacts are going to be far-reaching and no doubt very costly. Sandy could pose an enormous threat to major metropolitan areas in the Northeast, from Virginia Beach and Washington, D.C. to New York City and Boston.”
For the analysis, CoreLogic identified an area’s vulnerability to storm surge and then crunched the associated property values of the homes within a predicted storm surge region.