Nearly 350,000 properties lie in flood-risk areas that are not designated as such by the federal government, leaving many homeowners vulnerable to massive out-of-pocket costs for damage after Hurricane Ian.
Nearly 350,000 properties in the state face flood hazards but are not recognized as high risks in the Federal Emergency Management Agency’s flood maps, according to data by First Street Foundation, a nonprofit research group.
An additional 48,500 homes are at risk in Lee County, where officials say damage caused by Ian is extensive in Cayo Costa, Fort Myers and Cape Coral. Another 51,500 are in Hillsborough and Pinellas counties, where Tampa and St. Petersburg are located, the nonprofit said. Flooding is the nation's most common and costly natural disaster, yet many are ill-prepared for it, the institute said.A 2020 survey conducted by the group found that 27% of all American homeowners insurance policyholders said they had flood insurance. And Wharton’s Risk Management and Decision Processes Center similarly found that, on average, 30% of homes in the highest-risk areas nationwide have flood coverage.
In the first full year of the pandemic, Florida’s population grew by nearly 361,000 residents — the strongest annual increase since 2006, according to Florida’s Office of Economic and Demographic Research , a research arm of the state Legislature.
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