Written by The Business Journal Staff
A total of 10,912 homes in the four-county Central Valley region face high or extreme wildfire risk, and it would cost more than $3.41 billion to rebuild those homes.
That’s according to a new analysis from real estate data firm CoreLogic, which found the Riverside region facing the highest extreme wildfire risk in the U.S.
The risk factor was determined by a numeric score assigned to individual properties indicating the level of susceptibility to wildfire, as well as risk associated with a property being located in close proximity to high-risk areas. Extreme risk was scored from 81-100, while high risk scored 61-80.
In Fresno, 4,863 homes face a high or extreme wildfire risk, for a combined reconstruction value of $1.6 billion. Another 32,242 homes in Fresno face a low to moderate risk, with a combined reconstruction value of $9.87 billion.
In Madera, 4,932 homes face high or extreme risk, for a total reconstruction value of $1.49 billion. Another 32,242 Madera homes face a low-to-moderate wildfire risk, for a total reconstruction value of $11.62 billion.
In the Visalia-Porterville region, 1,117 homes face a high or extreme risk, for a total reconstruction value of $321.46 million. Another 100,185 homes face a low or moderate risk, for a total value of $26.39 billion.
In the Hanford-Corcoran region, no homes face a moderate-to-extreme risk, with 31,829 homes only facing a low risk for wildfire, for a total reconstruction value of $7.9 billion.
In terms of homes and reconstruction cost, California was the highest ranked state for wildfire risk out of 13 western states evaluated. A total of more than 9.1 million Golden State homes face some level of risk, for a total reconstruction cost of $3.1 trillion. Texas was ranked No. 2.
The Riverside-San Bernardino-Ontario region of Southern California faces the highest risk out of individual areas in these western states, with 51,775 homes facing extreme risk with a reconstruction value of $15.38 billion. The Sacramento region was No. 2, followed by Denver, Colorado.