MEDIA ADVISORY: CoreLogic Analysis Shows More Than 50 Percent of Properties in Houston at High and Moderate Risk of Flood Are Not in Designated Flood Zones

Media Contacts

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

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

August 28, 2017, Irvine, Calif. –

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, has conducted an analysis for the flooding occurring as a result of Hurricane Harvey. This analysis shows that 52 percent of residential and commercial properties in the Houston metro are at “High” or “Moderate” risk of flooding, but are not in a Special Flood Hazard Area (SFHA) as identified by the Federal Emergency Management Agency (FEMA). Properties within SFHA zones, categorized as Extreme or Very High risk, require flood insurance if the property has a federally insured mortgage. Properties outside SFHA zones are not required to carry flood insurance.

Table 1 shows the levels of flood risk* according to CoreLogic data for properties in seven metro areas likely to get severe rain and flooding as a result of Hurricane Harvey. Table 2 shows only the total and percent of properties in the High and Moderate risk categories that are not in an SFHA and therefore not required to carry flood insurance.

Table 1: Total Properties at Risk by Flood Risk Level

 

 

Inside Special Flood Hazard Area

Outside Special Flood Hazard Area

Metro Area

Total Properties

Extreme Risk

Very High Risk

High Risk

Moderate Risk

Low Risk

Very Low Risk

Austin-Round Rock-San Marcos

701,325

7,233

15,628

52,622

74,451

66,110

485,281

Bay City

23,459

722

5,727

7,374

5,904

1,104

2,628

Beaumont-Port Arthur

194,610

1,990

19,774

39,096

67,090

19,531

47,129

College Station-Bryan

91,106

836

2,983

6,865

13,070

13,496

53,856

Corpus Christi

34,330

186

4,199

5,924

6,175

3,379

14,467

Houston-Sugarland-Baytown

2,340,343

57,077

211,851

494,983

715,202

287,098

574,132

Victoria

42,419

646

1,847

7,064

7,751

4,198

20,913

Source: CoreLogic August 2017

Table 2: Total Properties in the High/Moderate Risk Level

 

 

Outside Special Flood Hazard Area

Metro Area

Total Properties

Total Properties in High/Moderate Risk

Percentage of Properties in High/Moderate Risk

Austin-Round Rock-San Marcos

701,325

127,073

18%

Bay City

23,459

13,278

57%

Beaumont-Port Arthur

194,610

106,186

55%

College Station-Bryan

91,106

19,935

22%

Corpus Christi

34,330

12,099

35%

Houston-Sugarland-Baytown

2,340,343

1,210,185

52%

Victoria

42,419

14,815

35%

Source: CoreLogic August 2017

*This current analysis does not include risk from storm surge or flash flooding.

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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