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FL - Homebuyers in Coastal Florida Are Not Factoring Sea Level Rise Risk into Home Prices

In the recent Freddie Mac Research Note “Sea Level Rise and Impact on Home Prices in Coastal Florida,” analysis showed that home prices in coastal Florida may not be taking into account the future risk of rising sea levels.

In the recent Freddie Mac Research Note “Sea Level Rise and Impact on Home Prices in Coastal Florida,” analysis showed that home prices in coastal Florida may not be taking into account the future risk of rising sea levels.

Low-lying and located in a tropical cyclone zone, Florida faces numerous climate hazards, including exposure to storm surge and tidal flooding. These existing natural disaster risks are exacerbated by the state’s future sea level rise (SLR) risk.

Over the next few decades, sea levels are estimated to rise several feet, according to several projections under different scenarios. For example, the National Oceanic and Atmospheric Administration (NOAA) predicts that, under its intermediate-high scenario, the sea level will rise by 6.3 feet in the Florida coast by the end of the century.

“Since 2000, demand for coastline properties has tripled. Sea level rise risk poses long-term challenges for coastal communities across the country and adds another layer of risk to existing flood risk.”

Ajita Atreya, Senior Macro & Housing Economist, Freddie Mac
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