Texas Leads the Nation in Property Damage From Severe Weather—Recent Flash Floods May Cost Up to $22 Billion

The devastating flash floods that swept through Texas’ Hill Country over the weekend are projected to leave behind not only a tragic human toll but also a massive economic cost from $18 billion to $22 billion, this figure includes damage to homes and businesses, search and rescue efforts, and longer-term impacts such as mental health care for survivors, lost tourism revenue.

At least 84 people have been confirmed dead in Kerr County alone, including 27 campers and counselors from Camp Mystic, an all-girls summer camp. Among the victims was the camp’s longtime director, Richard Eastland, who died while attempting to save campers.

“This is the latest disaster in an area with a long and tragic history of deadly and destructive flash floods,” said Jonathan Porter, AccuWeather’s chief meteorologist. He added that the damage “will have long-lasting economic impacts in the Hill Country region.”

Kerr County officials, who serve a population of approximately 50,000 residents, report that at least 12,000 homes have been damaged. Additionally, the National Insurance Crime Bureau estimates that up to 10,000 vehicles may have suffered water damage. The Guadalupe River, a central waterway in the region, rose by 26 feet in just 45 minutes on Friday night.

Texas, known for its vulnerability to extreme weather events, leads the nation in property damage from severe weather events. A 2022 analysis by Value Penguin found that between 2017 and 2021, weather-related property losses in Texas totaled over $121 billion, with flash floods being the most frequent and destructive and around a quarter of these losses were not covered by property insurance, resulting in flash floods as the biggest cause of weather-related property damage

If current projections hold, this weekend’s disaster would rank among the costliest in recent state history, surpassed only by events like Hurricane Harvey in 2017 and Hurricane Beryl, which struck in July last year with an estimated cost of $7 billion.

In response to the floods, major Texas-based companies such as H-E-B have mobilized relief efforts, while insurance providers like State Farm are already processing a surge in claims.