Millions of U.S. homes face an expensive flooding threat

By Rebecca Hersher, Madeline K. Sofia, and Rebecca Ramirez

Sea level rise and heavier rainstorms driven by global warming are sending more water into residential neighborhoods from the Gulf Coast to New England to Appalachia to the Pacific Northwest. New data make it clear that many households and communities cannot afford the mounting costs.

The cost of flood damage to homes nationwide will increase by more than 50 percent in the next 30 years, according to data released by the First Street Foundation, a nonprofit research organization that studies flood risk and housing. The Federal Emergency Management Agency plans to start raising rates for homeowners who are currently underpaying for flood insurance later in 2021.

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