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Between 2010 and 2021, flooding and flood-related events accounted for 26% of the billion-dollar natural disasters in the U.S. Among these were Hurricane Sandy ($80 billion), Hurricane Irma ($58 billion) and more recently the Missouri River/North Central flooding event ($12 billion).
As urbanization, under-maintained infrastructure and weather events caused by climate change continue, the threat of more (and more costly) flood events increases. In fact, according to one recent study, the cost of flooding damage may rise another 25% to over $40 billion on average per year by 2050.
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