What is First Street Foundation?
First Street Foundation will leverage its team of scientists and best-in-class communicators to quantify and communicate the real risk of flooding for every home in America, today and into the future.
Flood Risks are Costly and Underestimated
Flooding in the United States has cost more than $1 trillion in inflation adjusted dollars since 1980 and represents over 63% of the cost associated with all billion dollar or more natural disasters.
FEMA flood maps are the gold standard for America’s understanding of flood risk exposure. They are used to determine mortgage risk, to set flood insurance rates, for building and land use regulations, by homeowners and homebuyers to determine flood risk, and by cities and towns to plan flood mitigation efforts and keep communities safe. However, 75% of FEMA flood maps haven’t been updated within the last 5 years, and are therefore out of date; 11% date back to the 1970s and 1980s. In addition, many areas in the U.S. are still unmapped by FEMA and none of the mapped areas have future environmental changes incorporated into the risk projections.
Many areas in the U.S. are still unmapped by FEMA (white).
Of the areas that are mapped, only 25% are up to date by FEMA’s standards (blue).
Flood Risks in America are Increasing
SEA LEVELS
The ocean has risen an average of 8.5 inches nationally since 1950 and is projected to rise another 4.5 inches by 2050. This increases tidal flooding, makes high tides higher, and exacerbates hurricane storm surge.
ATMOSPHERIC TEMPERATURES
The atmosphere is 1.9 ℉ warmer than it was in 1950 and is projected to warm another 1.28 ℉ by 2050.6 | 5 This impacts the frequency and intensity of pluvial (precipitation) and fluvial (riverine) flooding.
SEA SURFACE TEMPERATURES
The sea’s surface temperature is 1.5 ℉ warmer than it was in 1950 and will rise another 0.5 ℉ by 2050.7 | 5 This impacts the intensity of hurricanes and the geographic area where they make landfall.
As sea levels continue to rise, sea surface temperatures continue to increase, and the atmosphere continues to warm. Floods will increase in both frequency and severity, putting more and more Americans at risk. Read more about the science behind increasing flood risks.
First Street Foundation’s Mission
For the vast majority of Americans, their home is their most valuable asset. Understanding the true risk of flooding will enable homeowners to protect their investment. Until America’s flood risk is properly calculated, communicated, and applied to all insurance rates, mortgages, land use decisions, bond ratings, and other financial instruments Americans will remain uninformed and unprepared.
First Street Foundation leverages the latest scientific methods and models. Its team of best in class researchers quantify the total flood risk for every home in America, today and well into the future, and its software engineers and communicators make this information available to the public.
First Street Foundation currently offers flood risk projections for 18 states via Flood iQ, and will continue to conduct this breakthrough research until tidal flood risk and property value loss data is available for all coastal communities
Want to know more? Contact us at info@firststreet.org.
