Climate-Driven Migration Patterns Impact U.S. Housing Markets as Flood Risks Escalate

Coastal counties with high flood risk are experiencing unprecedented population outflows as financial pressures mount. Redfin data reveals a net loss of nearly 30,000 residents from vulnerable areas including Miami-Dade, Harris (Houston), Orleans Parish, and Kings County (Brooklyn) in 2023—the first negative migration balance since 2019.

Insurance premiums have become the tipping point. Properties in flood zones now face triple-digit percentage increases in coverage costs, with some insurers exiting markets altogether. This financial strain compounds the existential threat of rising sea levels and intensifying storm systems.

The shift mirrors a broader repricing of climate risk in real estate. Low-flood counties attracted 36,000 more residents than they lost, suggesting a structural reallocation of housing demand. International immigration partially offsets losses in coastal metros, though policy changes may dampen this buffer.