By Michael S. Derby
NEW YORK (Reuters) – Homes in the New York, New Jersey and Connecticut areas face some of the most severe risk of flooding in the U.S., a report released on Wednesday by the Federal Reserve Bank of New York said.
One in 10 properties in the region “are at serious risk of flooding,” the report said, with these properties in the top 25% of the riskiest nationwide, even when more traditional areas of risk like the southeast of the United States are included.
And it’s not a problem of being too close to the sea.
“Flood risk is not just found in coastal communities or in New York City,” the report said. “Inland communities like Buffalo, Syracuse, and Newark face substantial risk from heavy rainfall, flash flooding, and overflowing rivers,” the study said, adding “this risk has grown in recent years and is projected to continue increasing.”
The New York Fed said the report was developed as part of its Community Development efforts, which focus on health, household financial well-being and climate risk.