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USA: Detroit, Indianapolis and Buffalo among the least disaster-prone and most affordable places to live

Source(s): Redfin Corp.
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By Tim Ellis

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Nine of the 10 metros with the lowest Natural Disaster Hazard Score ratings have lower home prices than the national median price of $287,400 in February. On the flip side, many of the most disaster-prone metros, including Washington, D.C., Los Angeles and New York are expensive coastal cities that home searchers are increasingly looking to leave.

“When you buy a home you are paying for more than just the house,” said Redfin chief economist Daryl Fairweather. “There could be hidden costs associated with natural disasters. If a natural disaster strikes, you may have to pay for damage to your home or for the cost of evacuating your family. And even during times of calm, you may still need to pay for insurance against floods, fire, or earthquakes. Some homes in more hazardous areas might seem more affordable if you are just looking at the sticker price, but they may end up costing more when risks related to natural disasters are factored in.”

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Hazards Earthquake Flood Tornado Wildfire
Themes Private sector Risk identification and assessment Urban risk and planning
Country and region United States of America
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