Rising flood threats loom amid South Florida’s active hurricane season
Writer: Mirella Franzese and Ryan Gandolfo
June 2024 — With the 2024 Atlantic hurricane season underway, South Florida is at a heightened risk of flooding as the National Oceanic and Atmospheric Administration (NOAA) predicts an “above-normal hurricane activity.” The strong winds from tropical typhoons expected to make landfall along the Southeastern coast of Florida are just a part of the challenge as cities deal with persistent storms that have proven to be capable of dumping up to 20 inches in recent weeks. And the impact on local communities and businesses is palpable.
Hurricane researchers at Colorado State University predict at least 23 named storms in 2024, nearly double the norm for an active season. Meanwhile, the University of Pennsylvania’s Mann Research Group suggests the number could be as high as 39 named storms.
While not all systems form into highly destructive hurricanes, more activity could lead to a greater likelihood of severe weather disasters. According to the NOAA, tropical cyclones have caused over $1.3 trillion in total damages since 1980 — accounting for the highest cost among all weather disasters in the United States.
Those costs could be magnified if residents and businesses aren’t adequately prepared to withstand the storms. In the past three years, over 1 million people have migrated to Florida, according to the latest U.S. Census data cited by the Florida Chamber of Commerce. And for many, this is their first hurricane season as a homeowner in South Florida.
Storms and subsequent flooding poses a significant risk to both homeowners and businesses. According to the Federal Emergency Management Agency (FEMA), flooding causes more damage in the United States than any other severe weather related event — averaging $5 billion annually. For Florida, where infrastructure and homes are particularly vulnerable, these costs can skyrocket. In 2023, Hurricane Idalia produced up to 10 inches of rainfall in Florida, Georgia, and the Carolinas, causing an estimated $3.6 billion in damages.
A glaring issue is the lack of flood insurance coverage. Despite the known risks, 87% of Florida households do not have flood insurance. FEMA cites misconceptions about coverage as part of the reason property owners don’t purchase protection to insure against flood losses, such as eligibility, costs, and coverage.
Insurance companies are also feeling the strain. With the increasing frequency and severity of storms, insurers are raising premiums and, in some cases, withdrawing from the market altogether. According to a report by the Insurance Information Institute, the average annual premium for flood insurance in Florida has increased significantly in recent years. In 2023, the Miami-Fort Lauderdale-Pompano Beach metropolitan area was the second-highest at risk for storm surge in single-family and multifamily, with New York-Newark-Jersey City significantly more at risk, according to the Insurance Information Institute.
For businesses, the disruption caused by hurricanes extends beyond physical damage. Transportation delays, supply chain disruptions, and labor shortages are common in the aftermath of a major storm. A historic flash flood in April 2023 caused over $1 billion damages in Fort Lauderdale and surrounding areas as 25.6 inches of rain fell in a 12-hour period. The 1-in-1,000-year rainfall event impacted the transportation of fuel from Port Everglades, with gas prices climbing to an average of $3.72 per gallon.
Moreover, small businesses, which account for 99.9% of U.S. firms, are particularly vulnerable. According to FEMA, 40% of small businesses do not reopen after a major disaster. For those that do, the path to recovery can be long and arduous, with 90% failing within two years of reopening.
In response to these looming threats, local governments have ramped up preparedness efforts. For example, Palm Beach County recently issued a comprehensive guide on evacuation routes, shelters, and storm monitoring resources — stressing the need for residents to ‘know your zone’ in reference to evacuation zones.
However, more proactive measures are needed. At a state level, Governor Ron DeSantis has supported $100 million in funding for the Resilient Florida Program for the upcoming year — putting total investment at $1.8 billion for this particular program, which covers 320 grants for comprehensive vulnerability assessments and 351 resilience projects. However, DeSantis also vetoed roughly $205 million in stormwater, wastewater, and sewer projects across the state to put the final state budget slightly lower than last year’s total, Tampa Bay Times reported.
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