Hurricane Ian will likely cost homeowners up to $260 billion in repairs and reconstruction, a report by real-estate data firm CoreLogic estimated.
As Hurricane Ian approaches Florida, a new report estimates that more than a million homes in the gulf are at risk of being damaged by the storm.
To be clear, Florida has always been at elevated risk for property damage from hurricanes. A previous CoreLogic report said that in addition, the city of Miami also has a higher risk of incurring storm-surge as well as wind damage. The RCV figures also assume 100% destruction of all at-risk homes, and are not a representation of expected damages, CoreLogic said.
CoreLogic said in a previous report that after Hurricane Ida evolved into a Category 4 storm in 2021 before reaching Louisiana and flooding many homes, many homeowners fell behind on their mortgage payments.
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