Property risk scores

RiskFactor, developed by First Street Foundation, provides detailed, property-specific environmental risk assessments to homeowners. These estimates cover risks from flooding, wildfire, extreme heat, severe winds, and air quality. The tool also accounts for how risks will evolve due to climate change, offering valuable information for long-term planning and mitigation. RiskFactor distinguishes itself from other risk assessments by offering granular, property-level data rather than broader, community-level insights. This enables homeowners to take precise, informed actions to reduce their risk. Insurers are also drawing on this information to reduce exposure.

As tools for property-level climate risk assessment become more widely used, they are likely to have a significant impact on residential location decisions, driving shifts in the market away from areas of elevated risk. This could create a need for more managed retreat policies, addressing disadvantaged people with homes in high-risk areas that are undervalued or unsellable.