Fires, floods, hurricanes, tornadoes, snow, droughts — many Americans have fallen victim to one of these natural disasters in recent years, and many are seriously considering moving away to avoid future storms and their associated costs.
A recent survey by Kin, a digital home insurance and finance provider, found that 49% of American homeowners are considering relocating in 2026 due to climate-related concerns.“Climate risk, insurance affordability, and borrowing costs increasingly shape where people decide to live,” the report noted.
Asked whether they were considering relocating for climate-related concerns, 19% of respondents said they were definitely considering it, 30% said they were somewhat considering it, 45% ruled it out, and 6% were undecided.
Some 80% of homeowners expect maintenance and repair costs to rise, while 72% expect higher insurance premiums – including spikes of 1-10%. “After the average home insurance premium increased by 24% between 2021 and 2024, 11% higher than inflation over the same period, insurance costs are now a major factor in homebuying decisions,” the report stated. They are also a major consideration for existing homeowners.
Of those considering relocation, one-quarter are considering an out-of-state move. Florida (58%) and California (52%) lead the list of states homeowners would steer clear of because of climate risks, followed by Hawaii (24%), Louisiana (22%), Texas (21%) and Alaska (21%).
According to the Internal Displacement Monitoring Center (IDMC), there were 11 million disaster displacements in the United States in 2024 — the most ever recorded for a single country. “The United States (US) alone accounted for nearly a quarter of global disaster displacement and was one of 29 countries and territories to record their highest figures on record,” IDMC reported.
Data from NOAA’s National Centers for Environmental Information (NCEI) show that from 2020 to 2024, there were 115 billion-dollar disasters in the U.S., or 23 events a year, with costs totaling $746.7 billion ($149.3 billion a year) and 2,520 deaths. In 2024 alone, there were 27 billion-dollar disasters, totaling $182.7 billion in costs and 568 deaths.
Between 1980 and 2024, hurricanes caused the highest costs, $1,543.2 billion, followed by drought ($367.5 billion), severe storms ($514.3 billion), and inland flooding ($203 billion).
According to the UCLA Anderson School of Management, total property and capital losses from the fires that ravaged parts of Los Angeles in 2025 could range from $76 billion to $131 billion, with insured losses estimated at up to $45 billion. In addition, there was a $4.6 billion loss in county GDP and millions in lost wages.
Meanwhile, 49% of survey respondents said insurance costs weigh very heavily on their homebuying decisions, and 31% were not confident they could maintain adequate coverage this year.
Kin CEO Sean Harper said inflation was a key driver of insurance premium increases in 2025 but predicted more stability in 2026 as inflation is tamed. He said premium increases would not be the story in 2026.
The Kin report said its “findings suggest a housing market defined by resilience, cost certainty, and long-term risk planning, signaling the need for more transparent data, smarter coverage options, and consumer-first tools to help homeowners navigate an increasingly complex landscape.”
(Photo credit: Mike Mareen/Adobe Stock)
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