Veros Real Estate Solutions Determines the Potential Residential Property Risk Resulting from This Category 4 Atlantic Hurricane Event Across Arkansas, Louisiana, Mississippi and Texas: August 26 -29, 2020.
Credits: NASA's Earth Observatory
Hurricane Laura made landfall near Lake Charles, Louisiana, with powerful winds, heavy rainfall and flash flooding on August 26 with long-lasting, far-reaching impact. Roofs torn from homes, power lines downed and lives forever impacted. Hurricane Laura turned into a tropical depression, but the effect continued.
Veros Real Estate Solutions identifies 1,560,875 residential properties potentially impacted in the core of the hurricane / tropical depression event, with a total market value (consisting of home and land value) of over $251 billion based on the predictive analytics available through the VeroVALUE AVM.
Using public records, proprietary data and mapping technology, this report details the potential impact to homes, outstanding mortgages and potential impact to insurance coverage.
Hurricane Laura Property Impact Key Stats
Potentially 1,581,948 properties in the region were at stake, with 1,560,875 in the direct core of the tornado with the potential for greater damage.
Total market value of potentially impacted properties in the core and buffer zones exceeds $254 Billion.
East Baton Rouge County was the hardest hit county in Louisiana with potentially impacted properties in the direct path of Laura at a market valuation of over $31 Billion.
Storm Facts & Figures
Hurricane Laura: One of the strongest storms to hit the U.S.
Louisiana Hit Hard: Strongest landfalling hurricane in Louisiana on record, tied with an 1856 storm that hit the community of “Last Island” (National Weather Service)
Broad Deep Path: Tropical Storm Laura also swept through Haiti, the Dominican Republic, Cuba, and Puerto Rico
Mass Evacuations: 500K+ ordered to evacuate in Texas and Louisiana
FEMA Disaster Declaration: Multiple FEMA Disaster declarations in Arkansas, Louisiana, Mississippi, Puerto Rico and Texas
Massive Winds: Peak gusts reached 150 mph
Significant Concentration of Potential Property Damage
This map shows the concentration of the wind, flooding and surge and its potential impact on the properties and people in the likely storm impact areas.
The Storm Surges
The Category 4 storm swirls and surges over Louisiana, causing significant damage to life and property in its wake. The storm surge rose as high as 17.2 feet.
Image Credit: (NOAA/GOES-East)
Find Out The Exact Number of Properties Likely Impacted by the Hurricane Laura
Hurricane Laura unleashed strong winds on the Louisiana coast. Laura is blamed for at least 10 deaths. While this is a devastating toll on life, Laura’s overall toll could have been worse, but it thankfully avoided more densely populated areas such as Houston and New Orleans.
Veros is committed to supporting the challenges faced by the organizations helping those in need. Veros continues to monitor the impact of hurricanes and future natural disasters as they occur. Our thoughts are with the communities and responders challenged with the effects of this event.
When Disaster Strikes, Veros Is There for You.
What Disaster Data Can Do for Your Business.
Proactively help the people most in need by identifying at risk loans and rapidly initiating contact to offer assistance
Identify damaged and high-risk properties
Accelerate clear-to-close time for unimpacted properties
Determine risk rating and focus risk management efforts on high-risk properties
Streamline the property assessment process
Eliminate unnecessary property inspections