Property Damage Forecast of Hurricane Matthew Reaches Into the Billions

As Hurricane Matthew barrels towards the southeastern United States, CoreLogic is warning of extraordinary residential property damage in four states that are in the path of the storm’s trajectory.

If the storm turns into a Category 3 Hurricane, estimates that the total number of homes at risk in Florida could reach 662,476, while 205,038 homes in South Carolina, 152,070 homes in North Carolina, and 103,691 homes in Georgia could be impacted. The total damage level of financial damage to the homes in the four states could reach more than $206 billion.

If the storm turns into a Category 4 Hurricane, estimates that the total number of homes at risk in Florida could reach 954,394, while 287,215 homes in South Carolina, 198,156 homes in North Carolina, and 137,963 homes in Georgia could be impacted. The total damage level of financial damage to the homes in the four states could reach approximately $327 billion.

CoreLogic noted that its analysis “measures exposure to damage from storm surge and does not include potential damage from wind and rain associated with hurricanes.”