Welcome!

News Feed Item

10.6 Million U.S. Housing Units in Counties With 'Very High' Natural Disaster Risk According to New RealtyTrac Report

Very High Risk Counties Account for 8 Percent of Total 131 Million U.S. Housing Units; 3.9 Million Housing Units in Counties With Very Low Risk -- 3 Percent of U.S. Total

IRVINE, CA -- (Marketwired) -- 06/19/14 -- RealtyTrac® (www.realtytrac.com), the nation's leading source for comprehensive housing data, today released its first-ever Natural Disaster Housing Risk Report, which assigns a natural disaster risk score to more than 3,000 county housing markets nationwide.

Scores assigned to each county's housing market were based on risk data for three natural disaster events -- hurricanes, tornados and earthquakes -- and each county was assigned to one of five risk categories based on their score: Very High Risk, High Risk, Medium Risk, Low Risk, and Very Low Risk (see more detailed methodology below).

Of the 3,138 U.S. counties analyzed in the report, 373 were classified as Very High Risk, representing 12 percent of all counties. The total number of housing units in those counties was 10.6 million, 8 percent of total U.S. housing units.

Meanwhile, 271 counties fell into the Very Low Risk category, representing 3.9 million housing units -- 3 percent of total U.S. housing units.

The biggest percentage of counties and housing units fell into the High Risk Category: 1,118 counties with a combined housing unit total of 61 million -- representing 47 percent of total U.S. housing units.

There were 511 counties in the Medium Risk category, representing 29.9 million housing units (23 percent of U.S. total), and 865 counties in the Low Risk category, representing 25.5 million housing units (19 percent of U.S. total).

"The potential risk of a natural disaster may not be the first item on most homebuyer checklists for a dream home, but prudent buyers will certainly take this into consideration along with myriad other factors that could affect home value," said Daren Blomquist, vice president at RealtyTrac. "In the past natural disaster data was technically available, but difficult for buyers and homeowners to dig up; however, now the data is readily available online for virtually any U.S. property, and buyers should take advantage of this."

Blomquist noted that users can view natural hazard risk data for 110 million property addresses nationwide by simply typing in the address at RealtyTrac-powered www.homefacts.com (no subscription required).

Home Prices Higher, 5-Year Appreciation Higher in High-Risk Counties
Among the 34 counties nationwide with at least 500,000 housing units, none were in the Very High Risk category, and only one was in the Very Low Risk category: Hennepin County, Minn., in the Minneapolis-St. Paul metro area.

Following Hennepin County with the lowest total risk scores were Dallas and Tarrant County in the Dallas-Fort Worth metro area; Oakland County, Mich., in the Detroit metro area; Bexar County, Texas in the San Antonio metro area; Allegheny County, Pa., in the Pittsburgh metro area; Sacramento County, Calif.; and Franklin County, Ohio in the Columbus metro area.

Most of the counties with at least 500,000 housing units were in the Medium Risk category (13) or High Risk category (13). Counties with the highest total risk score of 45 in the High Risk category were San Diego and Riverside in Southern California; Kings (Brooklyn), New York (Manhattan), Queens, Bronx and Suffolk in the New York City area; Wayne County, Mich., in the Detroit metro area; Philadelphia County, Pa.; and Middlesex County, Mass., in the Boston metro area.

"While other parts of the country experience blizzards, hurricanes and tornadoes, Southern California residents really only have to worry about the occasional earthquake, most of which cause just minor damage to affected areas," said Chris Pollinger, senior vice president of sales at First Team Real Estate, covering the Southern California market. "The market's positive attributes, such as ideal climate and lack of bugs, balance out the potential risk of the occasional earthquake."

Among the 34 counties with more than 500,000 housing units, the average median sales price in April 2014 was $268,470, 56 percent higher than the national median price of $172,000 in April. The average annual home price appreciation in these counties was 12 percent, slightly higher than the 11 percent year-over-year increase in the national median home price in April.

Median home prices in the eight counties with Low Risk or Very Low Risk for natural disasters averaged $161,000 in April, while median home prices in the 12 counties in the High Risk category averaged $377,483. Annual home price appreciation in the 12 counties in the High Risk category averaged 10 percent compared to April 2013, while annual home price appreciation in the eight counties in the Low Risk and Very Low Risk categories averaged 12 percent compared to April 2013.

Median home prices in April were up 34 percent on average compared to five years ago in the counties with a High Risk for natural disasters, while median home prices were up 23 percent on average compared to five years ago in the counties with a Very Low Risk or Low Risk for natural disasters.

"The higher median home prices in many counties with a high risk for natural disaster indicates that other location-based factors such as weather and access to jobs override concerns about home damage as a result of earthquakes, tornados and hurricanes," Blomquist added.

51 Counties with Very High Risk
There were 51 counties with a population of 100,000 or more with a total natural disaster risk score that classified as Very High Risk. This included counties in 13 states: Alabama, Arkansas, Georgia, Indiana, Kansas, Massachusetts, Mississippi, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina and Tennessee.

Among these counties the median home price in April 2014 was an average of $120,972, 30 percent below the national median home price of $172,000 in April. Home prices in these counties on average increased 9 percent from a year ago in April, compared to an 11 percent annual increase nationwide.

Counties in the Very High Risk category with the largest populations were Fulton and Dekalb counties in the Atlanta area; Shelby County in the Memphis, Tenn., area; Worcester County, Mass.; and Oklahoma County in the Oklahoma City area.

"While it is always important to take into account all benefits and risks of buying a home, housing markets are constantly fluctuating and can quickly bounce back after a natural disaster," said Sheldon Detrick, CEO of Prudential Detrick/Alliance Realty, covering the Oklahoma City and Tulsa, Okla., markets. "Just one year after the most recent tornado devastated the southern part of Oklahoma City, we are starting to exceed pre-recession levels in all categories of the market."

20 Counties with Very Low Risk
There were 20 counties with a population of 100,000 or more with a total natural disaster risk score that classified as Very Low Risk. This included counties in six states: Colorado, Minnesota, Montana, North Dakota, South Dakota and Wisconsin.

Among these counties the median home price in April 2014 was an average of $162,579, 5 percent below the national median home price of $172,000 for the month. Home prices in these counties on average increased 8 percent from a year ago in April, compared to an 11 percent annual increase nationwide.

Counties in the Very Low Risk category with the largest populations were Hennepin, Ramsey, Dakota and Anoka, all in the Minneapolis-St. Paul area; Adams and Weld counties on the Colorado Front Range; Brown County, Wis., in the Green Bay area, and Outagamie County in Appleton Wisconsin.

Report methodology
Each county was assigned a score from 15 to 75 based on its score in each of three equally weighted categories: earthquake risk, hurricane risk, and tornado risk. The earthquake risk score is based on a predictive earthquake risk model created by the U.S. Geological Survey (USGS) that calculates the probability of a 5.0 magnitude earthquake occurring within a 30-mile radius over the next 50 years. The hurricane risk score is based on historical hurricane activity data from 2001 to 2013 from the National Oceanic and Atmospheric Administration (NOAA) that ranks hurricane risk in each county on a scale from 0 to 456,668. The tornado risk score is also derived from NOAA data from 2001 to 2013 that provides a Destruction Potential Index (DPI) for each county based on the number of tornados, path area of tornados in square miles and intensity of tornados using the Fujita scale of F0 to F5.

Risk categories
Each county was assigned to one of the following risk categories based on its overall score:

  • Very High Risk: 50 to 75 score
  • High Risk: 40 to 45 score
  • Medium Risk: 35 score
  • Low Risk: 25 to 30 score
  • Very Low Risk: 15 to 20 score

Report License
The RealtyTrac Natural Disaster Housing Risk Report is the result of a proprietary evaluation of information compiled by RealtyTrac; the report and any of the information in whole or in part can only be quoted, copied, published, re-published, distributed and/or re-distributed or used in any manner if the user specifically references RealtyTrac as the source for said report and/or any of the information set forth within the report.

Data Licensing and Custom Report Order
Investors, businesses and government institutions can contact RealtyTrac to license bulk foreclosure and neighborhood data or purchase customized reports. For more information contact our Data Licensing Department at 800.462.5193 or [email protected].

About RealtyTrac
RealtyTrac is a leading supplier of U.S. real estate data, with nationwide parcel-level records for more than 125 million U.S. parcels that include property characteristics, tax assessor data, sales and mortgage deed records, Automated Valuation Models (AVMs) and 20 million active and historical default, foreclosure auction and bank-owned properties. RealtyTrac's housing data and foreclosure reports are relied on by many federal government agencies, numerous state housing and banking departments, investment funds as well as millions of real estate professionals and consumers, to help evaluate housing trends and make informed decisions about real estate.

Embedded Video Available

Embedded Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=2621293

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, discussed how a cloud designed for production operations not only helps accelerate developer in...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Venafi has extended the power of its platform in an easy-to-use utility for DevOps teams available for immediate download. Now DevOps teams can eliminate the hassle of acquiring and installing TLS keys and certificates. Instead, customers can focus on speeding up continuous development and deployment, while security teams have complete visibility and can keep the DevOps environment secure and compliant to protect customer data. Extending the Venafi Trust Protection Platform requires only a singl...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
The competitive landscape of the global cloud computing market in the healthcare industry is crowded due to the presence of a large number of players. The large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., an...
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, discussed the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filterin...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.