Coastal home buyers are ignoring rising flood risks, despite clear warnings and rising insurance premiums
Apollo Beach, Fla., averages 3 feet above sea level, with many homes directly on the water. Google Earth Risa Palm , Georgia State University and Toby W. Bolsen , Georgia State University Apollo Beach, Florida, is a maze of canals lined with hundreds of houses perched right near the water’s edge. The whole community, just south of Tampa, is only about 3 feet above sea level, meaning it’s at risk from storm surge as sea levels rise. Homebuyers along the U.S. coasts can check each property’s flood risk as easily as they check the size of the bedrooms – most coastal real estate listings now include future flood risk details that take climate change into account. In Apollo Beach, for example, many of the properties are at least 9 out of 10 on the flood risk scale. That knowledge isn’t stopping homebuyers, though. Waterfront homes are selling within days of going on the market, and the same story is playing out all along the South Florida coast at a ...