CoreLogic Estimates $170.2B in Potential Damage From Hurricane Florence
September 11, 2018
CoreLogic is forecasting that 758,657 homes in North Carolina, South Carolina and Virginia with a reconstruction cost value (RCV) of approximately $170.2 billion are at potential risk of storm surge damage from Hurricane Florence if it makes landfall at its current Category 4 status.
Among the major metro areas in those three states, the Virginia Beach-Norfolk-Newport News corridor runs the risk of the greatest damage, with 346,573 homes in harm’s way and an RCV of more than $73 billion. The Charleston, S.C., metro area has the second greatest level of potential damage, with 133,239 homes in harm’s way and an RCV of more than $34 billion.
As of 10:00 a.m. this morning, Hurricane Florence recorded winds up to 130 mph, and some meteorologists are predicted that it can elevate into Category 5 strength before it strikes overnight on Thursday. More than one million people face mandatory evacuation orders along the Virginia, North Carolina and South Carolina coastal areas.
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