MEDIA ADVISORY: CoreLogic Analysis Shows an Estimated 8.5 Million Properties in Florida at Significant Risk of Potential Wind Damage from Hurricane Irma

Media Contacts

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

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

September 08, 2017, Irvine, Calif. –

—Approximately 3.5 Million Properties at Potential Risk of Storm Surge Damage—

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released data analysis which shows that an estimated 8,456,455 residential and commercial properties in Florida are at either “Extreme,” “Very High” or “High” risk of wind damage from Hurricane Irma. CoreLogic storm surge analysis shows that an estimated 3,494,735 residential and commercial properties in Florida are at risk of hurricane-driven storm surge damage. Neither analysis includes potential damage from inland flooding.

Table 1 shows the estimated number of residential and commercial properties at risk of wind damage for both Florida and select Core Based Statistical Areas (CBSAs). Table 2 shows the estimated number of residential and commercial properties at risk of storm surge damage from Hurricane Irma for the state and the same CBSAs.

Storm surge occurs when water is pushed toward the shore through the force of powerful winds associated with cyclonic storms. High winds and low pressure created by a storm causes water to accumulate at its center, and as it moves across the ocean, the strong winds inside the hurricane act as a plow, causing water to pile up along the front of the storm.

Table 1: Estimated Number of Residential and Commercial Properties at Risk of Wind Damage from Hurricane Irma

Data in Tables 1 and 2 should not be combined to calculate totals as these are independent CoreLogic peril analyses and property duplication can occur.

CoreLogic Data

Extreme

Very High

High

Moderate

Low

Florida

2,658,005

3,393,312

2,405,138

854,238

11,586

CBSA

 

 

 

 

 

Cape Coral-Fort Myers

85,402

36,039

401,004

0

0

Crestview-Fort Walton Beach-Destin

3

68,527

0

29,294

0

Deltona-Daytona Beach-Ormond Beach

7

88,419

171,942

1

0

Gainesville

2

1

9,028

96,015

0

Jacksonville

15

277

187,777

437,763

3,828

Key West

26,117

29,406

0

0

0

Lakeland-Winter Haven

7

320,052

41

19

0

Miami-Fort Lauderdale-Pompano Beach

2,202,056

32

316

0

0

Naples-Marco Island

7,069

211,011

98

0

0

North Port-Bradenton-Sarasota

53

31,102

411,534

0

0

Ocala

21

136,124

24,041

704

0

Orlando-Kissimmee-Sanford

3

448,287

459,060

4

0

Palm Bay-Melbourne-Titusville

6,472

139,893

136,933

0

0

Palm Coast

0

62,521

9,070

0

0

Panama City-Lynn Haven-Panama City Beach

0

111,056

0

0

0

Pensacola-Ferry Pass-Brent

10,077

203,261

3,381

8,544

0

Port St. Lucie

234,597

30

57

0

0

Punta Gorda

0

1

205,616

0

0

Sebastian-Vero Beach

86,012

3,643

0

0

0

Tallahassee

3

52,943

0

0

109,726

Tampa-St. Petersburg-Clearwater

1

1,148,059

79,401

0

0

Source: CoreLogic 2017.

Table 2: Estimated Number of Residential and Commercial Properties at Risk of Storm Surge Damage from Hurricane Irma

Data in Tables 1 and 2 should not be combined to calculate totals as these are independent CoreLogic peril analyses and property duplication can occur.  

CoreLogic Data

Extreme (Affected by a Category 1-5 Storm)

Very High (Affected by a Category 2-5 Storm)

High

(Affected by a Category 3-5 Storm)

Moderate (Affected by a Category 4-5 Storm)

Low

(Affected by a Category 5 Storm)

Total Properties at Risk

Florida

455,505

888,654

864,333

702,407

583,836

3,494,735

CBSA

 

 

 

 

 

 

Cape Coral-Fort Myers

57,855

189,137

128,073

57,300

52,099

484,464

Crestview-Fort Walton Beach-Destin

4,611

5,599

8,318

8,611

8,323

35,462

Deltona-Daytona Beach-Ormond Beach

1,760

16,634

38,481

43,412

15,000

115,287

Gainesville

0

43

465

634

515

1,657

Jacksonville

10,859

36,149

63,442

42,709

60,139

213,298

Key West

16,917

23,050

 

 

 

54,360

Lakeland-Winter Haven

0

0

0

0

0

0

Miami-Fort Lauderdale-Pompano Beach

82,344

149,120

209,417

227,882

226,057

894,820

Naples-Marco Island

24,774

102,232

76,667

7,414

1,645

212,732

North Port-Bradenton-Sarasota

28,536

59,662

86,255

103,249

54,534

332,236

Ocala

2

1

3

5

23

34

Orlando-Kissimmee-Sanford

0

0

0

0

0

0

Palm Bay-Melbourne-Titusville

11,565

25,354

22,570

16,430

15,778

91,697

Palm Coast

1,248

9,957

5,414

4,322

3,844

24,785

Panama City-Lynn Haven-Panama City Beach

465

5,056

14,448

14,427

16,312

50,708

Pensacola-Ferry Pass-Brent

2,079

9,445

13,259

9,770

10,784

45,337

Port St. Lucie

12,720

8,621

8,484

7,957

19,997

57,779

Punta Gorda

64,020

83,391

32,878

23,009

1,006

204,304

Sebastian-Vero Beach

6,016

7,646

5,896

6,598

12,129

38,285

Tallahassee

2,427

3,008

7,399

7,166

2,811

22,811

Tampa-St. Petersburg-Clearwater

105,551

125,591

114,308

103,776

70,231

523,457

   Source: CoreLogic 2017.

Methodology

The analysis encompasses single-family residential structures less than four stories, including mobile homes, duplexes, manufactured homes and cabins, among other non-traditional home types. This does not infer that there will be no damage to residential units greater than four stories, as there may be associated wind or debris damage. However, including all high-rise residential units in the CoreLogic analysis would inaccurately inflate the number of homes at risk of storm surge flooding by including homes that are elevated above the potential for damage from surge waters.

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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