Nearly 2 million homes with a reconstruction cost value of more than $638 billion are at an elevated risk of wildfire damage this year, according to a new report by data analytics provider CoreLogic.
This wildfire season is well on its way to setting a record for one of the most destructive years for wildfires in recent memory, and the pandemic is creating additional complications, according to the report, which provides insights into single-family and multifamily residential properties at risk of damage from wildfires in the United States.
The devastating wildfires raging across the Western United States have left homeowners facing the challenge of starting from scratch. With disruptions to the supply chain for raw materials, manufacturing and transportation, the resulting hit to reconstruction efforts could be further challenged.
There is no state that is completely free from wildfire risk, but CoreLogic’s wildfire data indicates that over the past two years, approximately 96.4% of the total acreage burned in the United States was in 13 fire-prone Western states, plus Alaska and Florida. These 15 states are the most susceptible and have an expectation of severe property losses due to wildfire.
Alaska, due to its size and concentration of forested area, accounts for a large segment of total wildfire acreage each year. And Florida, even with higher levels of humidity and rainfall, tends to experience a relatively large share of wildfire activity.
As the nation’s population increases and residential development extends farther from metro areas, more homes and businesses will face the threat of wildfires.
The Los Angeles metro area tops the list of metropolitan areas with the greatest single-family residences at wildfire risk, followed by the Riverside and San Diego metro areas. California