Natural disaster risks can exacerbate financial inequality for minority homeowners because they increase the cost of homeownership due to higher insurance and energy expenses, as well as the costs of repairs and rebuilding after disaster strikes. (Credit: Andrey Popov/Adobe Stock)
At a time when natural disasters are becoming more frequent and more severe, minority homeowners are at greater climate risk than White homeowners, according to a new report from Zillow Research.
The risks arise from major wind damage, extreme heat, wildfires and poor air quality as well as flooding. The report found that extreme heat affected 81% of Black-owned homes, 77% of Hispanic homes, and 52% of White homes. Severe wind was a threat to 60% of Black and 32% of White homeowners. Wildfires put 24% of Hispanic and 18% of White homes at risk. Poor air quality threatened the homes of 32% of Asian Americans and 11% of Whites.
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