Climate Change Threatens $1.47 Trillion in U.S. Real Estate Value

Rising insurance costs and climate-driven migration are reshaping housing markets, with millions expected to relocate to safer areas within the next three decades.

A report by First Street Foundation projects $1.47 trillion in property value losses across the U.S. by 2055 due to climate risks like wildfires, flooding, and hurricanes.
Insurance premiums in high-risk areas have surged, with cities like Miami, Jacksonville, and Tampa seeing increases of over 200%, making homeownership less affordable.
More than 55 million Americans are expected to migrate to less climate-vulnerable areas by 2055, with over 5 million relocating this year alone.
Approximately 70,000 neighborhoods nationwide are forecasted to experience property value declines, while some safer regions may see increased demand and rising values.
The Sun Belt, historically a popular destination for homebuyers, faces significant challenges as Texas, Florida, and California account for over 40% of U.S. natural disaster costs since 1980.