Redfin Survey: Nearly One-Third of Young Adults Say Hurricane Helene Has Made Them Reconsider Where They Want to Live in the Future

Rhea-AI Summary

A new Redfin survey reveals that 32% of U.S. residents aged 18-34 are reconsidering their future living locations after witnessing the damage caused by Hurricane Helene. The storm, which hit Florida in late September and devastated parts of Appalachia, has prompted a shift in perspective on climate risks and housing choices.

Key findings include:

• 23% of respondents expect insurance premiums in their area to increase post-Hurricane Helene
• 13% believe it will be harder to obtain home insurance in their area
• 45% of overall respondents say the storm hasn't impacted their housing situation thoughts

The survey, conducted by Ipsos for Redfin, highlights growing awareness of climate change impacts on housing decisions across different regions and age groups.

Almost one-quarter of respondents overall expect insurance premiums in their area to increase after the storm

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) —Nearly one-third (32%) of U.S. residents aged 18-34 say they’re reconsidering where they want to move in the future after seeing or hearing about the damage caused by Hurricane Helene, according to a new survey commissioned by Redfin (redfin.com), the technology-powered real estate brokerage. That compares with 15% of respondents aged 35 and older.

Redfin’s report is based on a commissioned survey conducted by Ipsos on Oct. 2-3, 2024. The nationally representative survey was fielded to 1,005 U.S. adults. Redfin’s report focuses on responses to the following question: “Which of the following apply to you after seeing/hearing about the damage caused by Hurricane Helene?” Respondents were asked to consider nine situations.

After making landfall in Florida in late September, Hurricane Helene wreaked havoc across Appalachia, becoming the deadliest storm to hit mainland America in almost two decades. In North Carolina, the death toll has surpassed 100 and the city of Asheville has been devastated.

“Scores of Americans flocked to the Sun Belt during the pandemic because remote work allowed them to take advantage of the region’s relatively low cost of living. Some thought Appalachia was insulated from hurricane risk, not realizing that the area is prone to flooding and that hurricanes can sometimes cause flash flooding far away from the ocean,” said Redfin Chief Economist Daryl Fairweather. “Americans are beginning to realize that nowhere is truly immune to the impacts of climate change, and we’re starting to see that impact where people want to live—even people who haven’t experienced a catastrophic weather event firsthand.”

It’s worth noting that many people say the storm hasn’t changed their perspective on where to live; 45% of overall respondents (and 40% of respondents in the South) said the news of Hurricane Helene hasn’t impacted how they think about their housing situation.

Nearly One-Quarter of Respondents Think Insurance Costs Will Rise in Their Area After Hurricane Helene

Almost one-quarter (23%) of respondents overall expect insurance premiums in their area to increase after Hurricane Helene. The share was highest among respondents in the South (32%).

Nearly 1 in 7 (13%) respondents overall said they think it will be harder to get insurance for homes in their area after the storm. That share was also highest among respondents in the South (20%).

Many U.S. homeowners have already seen their premiums skyrocket or lost coverage as insurers grapple with skyrocketing claims due to intensifying natural disasters.

		Overall		18-34		35-54		55+		Northeast		Midwest		South		West
The news hasn’t impacted the way I think about my housing situation		45%		35%		46%		51%		44%		49%		40%		49%
I think it means insurance premiums will increase in my area		23%		18%		22%		28%		23%		18%		32%		15%
It has made me reconsider where I want to move in the future		20%		32%		15%		15%		26%		22%		20%		13%
I think house values in my area will increase given climate disasters are a lower risk here		13%		20%		13%		8%		14%		13%		10%		16%
I think it will be harder to get insurance for homes in my area		13%		11%		15%		12%		6%		8%		20%		10%
It makes me feel like renting is a better option for me than buying property		9%		14%		13%		4%		9%		8%		9%		12%
It has made me reconsider where I live now		8%		11%		10%		3%		7%		6%		11%		5%
I think it means house values in my area will fall		5%		9%		4%		4%		7%		6%		4%		4%
Another issue		3%		3%		2%		3%		1%		1%		2%		6%

To view the full report, please visit: https://www.redfin.com/news/hurricane-helene-impacting-relocation-survey

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix it up to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.6 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 4,000 people.

Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241007507296/en/

Contact Redfin

Redfin Journalist Services:

Kenneth Applewhaite

press@redfin.com

Source: Redfin

FAQ

How has Hurricane Helene affected young adults' housing preferences according to Redfin (RDFN)?

According to Redfin's survey, 32% of U.S. residents aged 18-34 say they're reconsidering where they want to move in the future after seeing or hearing about the damage caused by Hurricane Helene.

What percentage of respondents expect insurance premiums to increase after Hurricane Helene, as per Redfin's (RDFN) survey?

Redfin's survey shows that 23% of respondents overall expect insurance premiums in their area to increase after Hurricane Helene, with the highest share (32%) among respondents in the South.

How many respondents in Redfin's (RDFN) survey say Hurricane Helene hasn't impacted their housing situation thoughts?

According to the Redfin survey, 45% of overall respondents (and 40% of respondents in the South) said the news of Hurricane Helene hasn't impacted how they think about their housing situation.

What percentage of respondents think it will be harder to get home insurance after Hurricane Helene, based on Redfin's (RDFN) data?

Redfin's survey indicates that 13% of respondents overall said they think it will be harder to get insurance for homes in their area after Hurricane Helene, with the highest share (20%) among respondents in the South.