2024 CSDMS meeting-105
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Flood Risk and Housing Market Dynamics Across US Coastal Communities
Sandeep Poudel,
(He/Him),University of Connecticut Storrs Connecticut, United States. sandeep.poudel@uconn.edu
James Knighton, University of Connecticut Storrs Connecticut, United States.
Rebecca Elliot, London School of Economics and Political Science London , United Kingdom.
The evolution of human-flood systems is shaped by complex interactions between hazards, policy decisions, individual risk perception, and the exposure of properties. This complexity is further stressed by the changing climate conditions, making it crucial to understand how these systems will evolve and which regions and populations will be most affected. In this regard, we calibrated socio-environmental models across US coastal communities with historical records of flooding hazards, National Flood Insurance Program (NFIP) economic losses, NFIP policy purchases, housing density, and housing values. Next, we forced future projections of sea level rise, storm surge, and rainfall intensity under Shared Socio-economic Pathways (SSP) SSP245 and SSP585 up to 2100 for each coastal communities, and forecasted the future flooding loss, NFIP active policies, housing density, and housing values. We found significant regional and demographic variations in human-flood dynamics. The Pacific coast, due to high rainfall and storm surge threshold has less exposure, but a more sensitive housing market and NFIP participation rate. In contrast, the Atlantic and Gulf coasts are more exposed to hazards but have a less sensitive housing market and NFIP participation. Relative to historical average, we forecast flood loss to increase by 130% (SSP585) and 25% (SSP245) with a modest policy coverage of 16% (SSP585) and 13% (SSP245). Furthermore, we predict socially vulnerable communities to experience disproportionately more economic loss with a slow policy uptake rate, leading to a growing insurance coverage gap under both climate scenarios. Finally, we tested the effect of heightening levees across the US coast on future flood risk, and found that levee investment can stabilize housing markets, but it won’t eliminate flooding risk entirely due to increased rainfall intensity. Understanding how human-flood systems co-evolve under climate risk helps to recognize population and property at risk and make robust mitigation strategies.
