The Real Deal Miami

Gulf Coast residential properties have $36 billion in potential storm exposure: report

August 27, 2012 01:30PM

The Gulf Coast region’s potential exposure to residential property damage from Tropical Storm Isaac is approximately $36 billion, according to an analysis from CoreLogic. The exposure is calculated based on Isaac striking the Gulf Coast as a Category 2 hurricane. “It’s clear now that Isaac is heading into the Gulf, and, according to recent forecasts, will potentially make landfall as a Category 2 hurricane,” said Dr. Howard Botts, vice president and director of database development for CoreLogic Spatial Solutions. The risk is dominated by New Orleans, which has almost $30.5 billion across 222,672 residential properties at risk. The next-largest exposure is Panama City, which has 7,668 properties totaling $1.17 billion. — Alexander Britell