Study: By 2045, nearly $4 billion worth of residential property at risk of chronic flooding
Posted June 18, 2018 6:16 p.m. EDT
Updated June 18, 2018 6:41 p.m. EDT
Raleigh, N.C. — A new study released Monday says that more than 100,000 homes in North Carolina are at a risk of recurring flooding in the coming years because of global warming.
The study, by the Union of Concerned Scientists, puts the cost of at-risk properties in North Carolina near $30 billion.
The study focuses of different sea level scenarios, projecting an average of 1.8 feet of sea level rise for North Carolina by 2045. If that were to be the case, flooding would impact 15,000 residential properties or roughly 23,000 people.
The homes that would face this flooding at the end of the century are currently worth roughly $28.5 billion.
Looking to 2100, the study predicted that sea level would rise 6.8 feet. The homes at risk by 2100 currently contribute roughly $187 million collectively in annual property tax revenue.
Based on the study:
- Crawford would have 504 homes and 1,210 people affected
- Atlantic Beach would see 200 homes and 202 people affected
- Beaufort would have 148 homes and 246 people affected
- Stump Sound would have 542 homes and 851 people affected
- Topsail would have 313 homes and 504 people affected
By 2045, nearly $4 billion worth of residential property is at risk of chronic flooding, currently worth about $28.5 billion.
The study suggests if the United States were to adopt the Paris Agreement, an international plan to limit the effects of climate change, about 87 percent of North Carolina's at-risk homes could avoid chronic flooding by the end of the century.