As the impacts of intensifying climate and environmental risks continue to be felt across the nation, many of 2023’s predicted hottest real estate markets could expose individuals to unexpected hazards, according to a recent report released by AreaHub.
AreaHub™, a local climate and environmental hazard information platform, released this year’s housing market report, “Climate and Environmental Concerns in 2023’s Hottest Housing Markets.” The report highlights the top hazards for the most popular markets, as ranked by Zillow®:
At best, all the hottest housing markets have moderate air quality levels (AQI > 50).
Multiple brownfields can be found within a 5-mile radius of all the hottest housing markets in 2023. Brownfields are abandoned or unused properties that may be contaminated.
Oil, gas, or fracking wells can be found near 40% of the hottest housing markets in 2023.
70% of the hottest housing markets in 2023 have at least one Superfund site nearby, which are heavily contaminated sites that are deemed dangerous to the environment and people.
Half of the hottest housing markets in 2023 are at moderate risk or worse of potentially destructive tornadoes.
40% of the top cities in 2023 are in counties with elevated average indoor radon, a naturally occurring invisible gas that is a leading cause of lung cancer.
As climate and pollution threats increase across the U.S., most U.S. homeowners say climate change resiliency is a priority. According to a Redfin survey, nearly 60% say they invested in making their homes more resilient to climate threats. Identifying a home’s climate and environmental risks before purchasing can give homebuyers peace of mind and allow them to anticipate future upgrades.
“In a world with a rapidly changing climate and increased environmental risks, we need reliable information about potential local hazards,” said Alison Gregory, AreaHub Co-Founder and CEO. “Climate issues are becoming increasingly frequent and impactful. In 2022, damages from natural disasters totaled about $165 billion in the U.S., according to NOAA. These climate issues may also exacerbate an area’s pollution risks, such as if a contaminated site leaked toxic or hazardous chemicals due to flooding or wildfires.”
Click here to read the full housing market report from AreaHub.