CoreLogic: 1 in 10 U.S. Residential Properties Affected by Natural Disasters in 2021

CoreLogic, Irvine, Calif., said nearly 14.5 million single-family and multifamily homes—nearly 10 percent of all U.S. residential properties—were directly affected by natural disaster events in 2021.

The CoreLogic Climate Change Catastrophe Report said those homes suffered an estimated $56.92 billion in property damages from hurricanes, tornadoes, hailstorms, wildfires, earthquakes and severe winter storms.

Data are based on a CoreLogic analysis of more than 120 million residential structures in the U.S.

The report said natural disasters are increasing in frequency and severity, impacting regions underprepared to handle an economic disruption, job displacement and the destruction of real estate assets. “Community members are often unable to pay their mortgages or afford reconstruction costs,” the report said.

For example, the report said Houma, La., was hit head-on by Hurricane Ida, a category 4 hurricane, in August. At the time of impact, delinquency rates hovered around 7.4%. The following month, the delinquency rate nearly doubled to 13.3% and hit 13.5% in October.

The report can be found at www.hazardhq.com.