A recent study by Insurify revealed some disturbing findings concerning climate change and its effect on housing markets in the United States. Specifically, the study determined that 4 of the 20 cities whose real estate markets are currently most at-risk for the effects of climate change are located in New Jersey, with one of the markets being in Hudson County. All of the cities are located in the state’s urbanized northeastern corner: Jersey City, Newark, Elizabeth, and Paterson have an Overall Climate Change Risk Level that’s between 33-46% higher than the national average for U.S. cities (Paterson has the 3rd-highest risk level in the nation). The Insurify study says the impact of climate change on real estate markets in these cities will have significant socio-economic ramifications that need to be acknowledged and addressed.
To conduct this study, analysts at Insurify referred to climate change data from the University of Notre Dame’s Urban Adaptation Assessment, launched by the Notre Dame Global Adaptation Initiative, and real estate data from Redfin, an online real estate brokerage.
Insurify Insights have been featured in numerous publications and on various broadcast media outlets, including Forbes, Fox News, USA Today, NPR, MSN, just to name a few.
The full study and list of cities with the most at-risk real estate markets can be found here: