PropertyShark just released its newest study, analyzing the differences in pricing and sales in NYC’s flood zones versus areas considered low risk. Looking into 2012 sales data prior to Sandy and comparing it to 2023 figures for the same period, we discovered that prices grew at a significantly slower pace in flood zones (33%) across the city than in areas that are not considered at-risk (53%) by FEMA.
The Bronx, however, went somewhat against the grain, with flood zone prices rising 43% over the past 11 years, while areas considered low risk appreciated 41%.
Additionally, flood zone sales remained at 2012 levels, representing 12% of the borough’s total in 2023 as well.
For more borough-level details, as well as city-wide comparisons, charts and visuals, explore the full report here.
About PropertyShark
The PropertyShark blog covers real estate market trends, research reports, market studies, company and industry news, and many other real estate topics. It has become an established news source for industry professionals and journalists covering real estate and housing.
