Colorado, California and Texas have the highest number of homes at high risk of property damage from wildfires, according to CoreLogic, a real estate analytics firm.
The wildfire hazard risk report identifies 740,000 residences in 13 states in the Western half of the country that are rated as high or very high risk for wildfire damage.
The three states had a combined property value exceeding $20 billion for homes rated at very high risk. Adding the homes located in the high risk increases the total property value at risk to more than $62 million, the report said.
That’s nearly half of the combined property damage risk in all 13 states surveyed — $136 billion.
The report was developed to provide the insurance industry, financial services companies, homeowners and others harmed by wildfire outbreaks with a better understanding of wildfire risk in the U.S.
The analysis also assigns a comprehensive numeric risk score ranging from 1-100. The score indicates the level of susceptibility to wildfire that accounts for risk not only within the property itself, but also considers the risk located in close proximity but outside the property boundary. When expanding the view of risk to include the surrounding area, more than 900,000 homes can be assigned the highest wildfire risk score (81-100), representing a combined potential property value of more than $161 billion.
There are 48,901 properties in high and very high risk areas in Colorado. There are 49,258 homes in danger in California and 18,490 in Texas, according to the report.