CoreLogic Analysis Shows More Than 200,000 Homes in Texas at Potential Risk of Storm Surge Damage from Hurricane Harvey

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Alexandra Hayes
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Lori Guyton
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(901) 277-6066

August 24, 2017, Irvine, Calif. –

Reconstruction Cost Values Total Almost $40 Billion

According to CoreLogic data analysis, 232,721 homes along the Texas coast with a reconstruction cost value (RCV) of approximately $39.6 billion are at potential risk of hurricane-driven storm surge damage from Hurricane Harvey, based on Category 3 predictions. Current projections do not expect Hurricane Harvey to exceed a Category 3 storm.

The table below shows the total number of properties at risk of storm surge damage for each of the five hurricane categories as well as the accompanying RCV for the Core Based Statistical Areas (CBSAs) located along the Texas coast that could potentially be affected. The RCV is the cost to completely rebuild a property in case of damage, including labor and materials by geographic location, assuming a worst case scenario at 100-percent destruction.  

Total Number and RCV of Residentail Properties for Hurricane Harvey
Categories represent cumulative totals

Categories represent cumulative totals

CBSA At-Risk Homes Cat 1 Cat 2 Cat 3 Cat 4 Cat 5
Bay City  Total Homes at Risk 1,539 2,482 4,213 4,507 4,737
  Total RCV $199,720,425 $324,652,618 $574,205,313 $618,164,094 $654,399,578
Beaumont-Port Arthur  Total Homes at Risk 8,006 38,259 75,567 101,754 117,645
  Total RCV $992,144,728 $5,856,970,623 $12,081,775,805 $16,415,613,650 $18,987,325,909
 Corpus Christi Total Homes at Risk 4,341 14,784 34,802 57,640 76,242
  Total RCV $729,597,679 $2,614,403,134 $6,172,039,671 $10,267,141,322 $13,665,695,670
Houston-The Woodlands-Sugar Land  Total Homes at Risk 24,398 52,928 118,138 190,939 283,380
  Total RCV $3,851,603,902 $8,200,894,257 $20,820,079,983 $36,464,099,616 $53,376,561,689
Victoria Total Homes at Risk 0 0 1 13 32
  Total RCV $0 $0 $167,096 $1,573,750 $5,141,760

 

Hurricane-driven storm surge flooding can cause significant property damage when high winds and low pressure cause water to amass inside the storm, releasing a powerful rush over land when the hurricane moves onshore. This CoreLogic analysis measures exposure to damage from storm surge and does not include potential damage from wind and rain associated with hurricanes. 

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

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