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CoreLogic Analysis Shows More Than 50 Percent of Properties in Houston at High and Moderate Risk of Flood Are Not in Designated Flood Zones

Source: Business Wire

IRVINE, Calif.--(BUSINESS WIRE)--Aug. 28, 2017-- CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, has conducted an analysis for the flooding occurring as a result of Hurricane Harvey. This analysis shows that 52 percent of residential and commercial properties in the Houston metro are at “High” or “Moderate” risk of flooding, but are not in a Special Flood Hazard Area (SFHA) as identified by the Federal Emergency Management Agency (FEMA). Properties within SFHA zones, categorized as Extreme or Very High risk, require flood insurance if the property has a federally insured mortgage. Properties outside SFHA zones are not required to carry flood insurance.

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CoreLogic Table 1: Total Properties at Risk by Flood Risk Level (Graphic: CoreLogic)

CoreLogic Table 1: Total Properties at Risk by Flood Risk Level (Graphic: CoreLogic)

Table 1 shows the levels of flood risk* according to CoreLogic data for properties in seven metro areas likely to get severe rain and flooding as a result of Hurricane Harvey. Table 2 shows only the total and percent of properties in the High and Moderate risk categories that are not in an SFHA and therefore not required to carry flood insurance.

Table 1: Total Properties at Risk by Flood Risk Level

 
             

Inside Special
Flood Hazard Area

    Outside Special Flood Hazard Area
Metro Area      

Total
Properties

   

Extreme
Risk

   

Very
High
Risk

   

High
Risk

   

Moderate
Risk

   

Low
Risk

   

Very
Low
Risk

Austin-Round
Rock-San
Marcos

      701,325     7,233     15,628    

52,622

   

74,451

    66,110     485,281

Bay City

      23,459     722     5,727    

7,374

   

5,904

    1,104     2,628

Beaumont-Port
Arthur

      194,610     1,990     19,774    

39,096

   

67,090

    19,531     47,129

College Station-
Bryan

      91,106     836     2,983    

6,865

   

13,070

    13,496     53,856

Corpus Christi

      34,330     186     4,199    

5,924

   

6,175

    3,379     14,467

Houston-
Sugarland-
Baytown

      2,340,343     57,077     211,851    

494,983

   

715,202

    287,098     574,132

Victoria

      42,419     646     1,847    

7,064

   

7,751

    4,198     20,913

Source: CoreLogic August 2017

 

Table 2: Total Properties in the High/Moderate Risk Level

 
       

 

   

Outside Special Flood Hazard Area

 

Metro Area       Total Properties    

Total Properties in
High/Moderate Risk

   

Percentage of
Properties in
High/Moderate Risk

Austin-Round Rock-
San Marcos

      701,325    

127,073

    18%

Bay City

      23,459    

13,278

    57%

Beaumont-Port Arthur

      194,610    

106,186

    55%

College Station-Bryan

      91,106    

19,935

    22%

Corpus Christi

      34,330    

12,099

    35%

Houston-Sugarland-
Baytown

      2,340,343    

1,210,185

    52%

Victoria

      42,419    

14,815

    35%

Source: CoreLogic August 2017

*This current analysis does not include risk from storm surge or flash flooding.

About CoreLogic
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries.

Source: CoreLogic

CoreLogic
Lori Guyton
(901) 277-6066
lguyton@cvic.com
or
Alexandra Hayes
(484) 888-4412
ahayes@cvic.com

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