According to a recent study, Connecticut contains three of the top five cities in the nation with the most expensive homes at risk of coastal flooding.
The information was produced by Gavop using statistics from the United States Census Bureau to gauge where homes are located that are prone to damage from rising sea levels. The analysis first looked at which areas are most vulnerable to the effects of rising sea levels and then calculated the price of homes in these areas as well as the price of home insurance premiums.
Out of all the beach-front locations in the country, Riverside, a neighborhood in the Town of Greenwich, has the most expensive homes at risk to coastal flooding. In Riverside, the median home value is $1.9 million.
The next most expensive at-risk homes are in Darien with a median home value of $1.8 million followed by two cities in California, and Old Greenwich, CT in fifth, with a $1.7 million median home value.
"This study used recent data to look closely into flood-risk areas so we can learn more about our current situation. Residents of coastal communities in this study should keep sea-level flooding in mind when purchasing homes and homeowners insurance" said Gavop analyst Kevin Pryor.
The analysis was produced with increasing threat of rising sea levels and climate change in mind. There is a long-term documented trend of increasing global temperatures, which in turn, are causing oceans to rise higher onto land. Data now shows that some homes in Connecticut are the most at risk to financial loss in terms of flood damage, according to the report.
For more details on the study, click here:
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