HOUSINGNEWS REPORT
SECTION TITLE
DATA IN ACTION
Where to Buy Homes with Least Natural Hazard Risk
Real estate investors who want to avoid property damage caused by natural hazards should be looking in the Rust Belt, according to the ATTOM Data Solutions 2018 U.S. Natural Hazard Housing Risk Index. For the report ATTOM indexed natural hazard risk in more than 3,000 counties and more than 22,000 U.S. cities based on the risk of six natural disasters: earthquakes, floods, hail, hurricane storm surge, tornadoes, and wildfires. ATTOM also analyzed housing trends in 2,616 cities and 440 counties
— containing more than 53 million single family homes and condos — broken into five equal quintiles of natural hazard housing risk (view full methodology). Homes selling at 4.4 percent discount in lowest-risk markets Among the 440 counties with sufficient housing data, those with the lowest natural hazard housing risk were Milwaukee County, Wisconsin, Muskegon County Michigan, Cuyahoga County/ Cleveland, Ohio, Kenosha County,
Wisconsin in the greater Chicago metro area, and Monroe County/ Rochester, New York. Homes in counties in the bottom 20th percentile for natural hazard risk have a median sales price so far in 2018 that is 22 percent lower than the median sales price for all counties nationwide. Also, homes in those lowest-risk counties are selling at a 4.4 percent discount on average below their estimated full market value at the time of sale.
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OCT 2018 | ATTOM DATA SOLUTIONS
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