CoreLogic Data Shows 1.8 Million Homes in 13 Western US States at Severe Risk of Wildfire

Media Contacts

Alexandra Hayes
ahayes@cvic.com
(484) 888-4412

Lori Guyton
lguyton@cvic.com
(901) 277-6066

October 26, 2016, Irvine, Calif. –

—California has the most homes at risk and the highest reconstruction cost value—

According to new data released today by CoreLogic®, 1.8 million single-family homes across 13 states in the western U.S. are currently designated as Extreme or High risk of wildfire damage, representing a combined total reconstruction cost value (RCV) of almost $500 billion. An additional 27 million properties, with an estimated RCV of $6.7 trillion, fall into the Moderate or Low risk category.

The CoreLogic Wildfire Risk analysis designates risk levels as Extreme, High, Moderate and Low based on a numeric risk score ranging from 1 to 100 assigned to individual properties. This score indicates the level of susceptibility to wildfire, as well as the risk associated with the property being located in close proximity to adjacent high-risk properties or areas. This proximity designation is important since wildfire can easily expand to surrounding properties and cause significant damage even if the original property was not considered high risk.

Table 1: Residential Wildfire Risk for the Western U.S.

Wildfire Risk Level

Wildfire Risk Score (1-100)

Total Properties

Total Estimated Reconstruction Value

Extreme

81-100

893,333

$218,758,051,071

High

61-80

919,392

$281,041,584,567

Moderate

51-60

367,629

$106,630,098,370

Low

1-50

26,745,212

$6,627,236,644,663

Total

 

28,925,566

$7,233,666,378,671


At the state level, California and Texas rank first and second for the total number of homes in the Extreme wildfire risk category due to a large number of residential properties in these states combined with the proximity of high-risk vegetation and terrain. Combining both the High and Extreme categories, California tops the list with 645,445 properties at risk, followed by Texas (532,317) and Colorado (195,601). Table 3 shows that California also has the highest RCV in each of the top two risk levels at more than $250 billion, followed by Texas and Colorado at almost $94 billion and $54 billion, respectively.

Table 2: Residential Wildfire Risk by State

State

Extreme Risk (81-100)

High Risk (61-80)

Moderate Risk (51-60)

Low Risk (1-50)

Total

CA

263,152

382,293

136,913

8,322,108

9,104,466

TX

261,595

270,722

114,337

7,088,343

7,734,997

WA

18,323

14,272

7,891

2,255,954

2,296,440

AZ

26,782

28,882

11,375

2,023,488

2,090,527

CO

117,832

77,769

32,657

1,555,289

1,783,547

OR

80,261

50,413

22,977

1,139,502

1,293,153

OK

152

382

259

1,251,283

1,252,076

NV

6,325

7,556

1,249

876,382

891,512

UT

3,950

12,910

8,912

727,056

752,828

NM

38,911

24,318

8,453

540,335

612,017

ID

41,230

26,647

10,795

500,028

578,700

MT

29,902

21,079

10,182

274,441

335,604

WY

4,918

2,149

1,629

191,003

199,699 


Table 3: Total Potential Reconstruction Cost Value from Wildfire Damage 

State

Extreme Risk (81-100)

High Risk (61-80)

Moderate Risk (51-60)

Low Risk (1-50)

Total

CA

$90,261,926,369

$163,419,491,775

$56,195,773,817

$2,835,909,802,454

$3,145,786,994,415

TX

$41,439,955,631

$52,423,286,410

$22,901,200,812

$1,357,724,967,788

$1,474,489,410,641

WA

$3,920,761,193

$3,162,198,598

$1,704,136,494

$544,593,138,874

$553,380,235,159

CO

$32,652,822,276

$21,568,699,324

$8,739,871,411

$360,918,038,781

$423,879,431,792

AZ

$4,960,333,908

$5,492,929,057

$2,087,493,320

$375,574,787,244

$388,115,543,529

OR

$16,123,418,127

$10,734,344,793

$4,764,234,407

$247,256,829,757

$278,878,827,084

NV

$2,849,501,119

$3,393,079,994

$383,812,551

$223,751,993,091

$230,378,386,755

OK

$25,285,117

$61,827,146

$39,547,502

$220,623,957,106

$220,750,616,871

UT

$1,198,543,055

$4,313,715,812

$2,958,129,586

$163,055,827,123

$171,526,215,576

ID

$9,663,737,893

$5,772,218,483

$2,415,315,545

$103,350,310,521

$121,201,582,442

NM

$9,160,165,154

$5,537,242,318

$1,853,408,250

$103,812,378,714

$120,363,194,436

MT

$6,552,904,199

$4,726,240,224

$2,263,044,015

$54,701,842,363

$68,244,030,801

WY

$948,697,040

$436,310,633

$324,130,660

$35,962,770,847

$37,671,909,180


Of the 258 Core Based Statistical Areas (CBSA) that were analyzed based on wildfire risk, Riverside-San Bernardino-Ontario, Calif. ranks first for the most number of homes at Extreme risk with 51,775 properties falling into this category, followed by Sacramento-Roseville-Arden-Arcade, Calif. (41,937) and Denver-Aurora-Lakewood, Colo. (33,226). In terms of RCV, Sacramento-Roseville-Arden-Arcade, Calif. edges out Riverside-San Bernardino-Ontario, Calif. by almost 1 billion dollars at $16.4 billion compared with more than $15.3 billion.

Table 4: Top 10 Core Based Statistical Areas at Risk of Wildfire Damage  

CBSA

Number of Homes Extreme Risk (81-100)

RCV Extreme Risk (81-100)

Riverside-San Bernardino-Ontario, CA

51,775

$15,383,060,659

Sacramento-Roseville-Arden-Arcade, CA

41,937

$16,409,863,212

Denver-Aurora-Lakewood, CO

33,226

$9,890,254,069

Austin-Round Rock, TX

19,554

$4,669,610,913

Los Angeles-Long Beach-Anaheim, CA

18,177

$9,615,617,137

Truckee-Grass Valley, CA

15,075

$4,915,240,765

Colorado Springs, CO

14,460

$4,284,085,255

Houston-The Woodlands-Sugar Land, TX

14,258

$2,244,961,892

Chico, CA

13,666

$3,059,909,484

San Antonio-New Braunfels, TX

13,632

$3,152,381,640 


The full 2016 wildfire report can be found at http://arcg.is/2dkIcMx

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.

CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries.