+ Am I at a risk of flooding?

Flood Factor is a free, online tool that makes it easy to learn if a property has flooded from major events in the past, is currently at risk, and how that risk changes over time. Finding your risk level can help you make informed decisions to prepare for the future. Note that some properties may not be shown in the Flood Factor tool.

Calculate your personal flood risk here.

+ What is a buyout?

A property buyout for flood mitigation refers to the process in which a local government buys properties which are vulnerable to flooding from willing owners. This process often occurs after natural disasters, such as hurricanes, wherein federal agencies like FEMA allocate money to states who have recently experienced a natural disaster⁽¹⁾.

A local government can then request access to some of this money from the state for use to buy homes or businesses in their jurisdictions from the owner. The goal is to allow the property owner and residents to relocate elsewhere, outside of zones that are greatly at risk of flooding in the future. If the local government’s request is approved by the state and federal agencies, buyouts can be conducted.

Buyouts have been conducted in over 500 cities and towns across the country in every state but Hawaii.

(1) Buyouts of flood-prone houses can -- and, ideally, should -- happen before a natural disaster actually occurs. States can submit a proposal to the U.S. Department of Housing and Urban Development (HUD) to compete for a Community Development Block Grant (CDBG). If selected as a recipient of the grant, the state can use the funds to conduct proactive buyouts. The HUD grant typically covers 100% of the costs of the buyouts, whereas FEMA only provides 75% of the funds to buy the property, while state and local governments are responsible for the other 25% (“Acquisition of Property,” 2018).

+ What are the advantages of a buyout?

Since the 1980’s, over 43,000 households have participated in buyout programs, with more than 5 billion dollars given out by FEMA via state or local governments. A buyout offers several long-term advantages, which is why so many households have asked their local or state governments to buy their flood-prone properties in the past.

Flooding is costly, dangerous, and often traumatic for the individuals experiencing the flooding. Families may lose irreplaceable items of great personal value, such as family photos or heirloom furniture. Additionally, they may constantly worry about the possibility of their house flooding again in the future. Even minor flooding can lead to many inconveniences. A family may need to park their car in a new location or no longer be able to grow certain plants in their garden due to salt water intrusion or rising groundwater levels.

Though other steps can be taken to decrease the chances of future damage from flooding, only moving off the property completely guarantees a household's safety. Thus, the main advantage of a buyout is that it is the only permanent solution to flooding. Other potential benefits involve the location and amenities of a new home families are able to relocate to after being bought out. The new house may be located closer to an individual’s workplace, to their child’s school, or to extended family. For older individuals, buyouts may offer an additional advantage, as the individuals can take the opportunity to down-size or move to assisted living facilities.

+ What are other alternatives to a buyout?

As mentioned, there are alternatives to a buyout, including elevation of the house or renting/selling the home. However, neither of these options are a permanent solution to flooding and have several downsides that families should weigh.

Elevating a flood-prone home is often costly, with prices around $75 per square foot. Using this estimate, it would cost more than $120,000 to elevate a 1,600 square foot house, the median size of a single family home in the U.S. Costs are even higher for two-story houses. Additionally, elevation is not a viable solution for all homes. If a house’s foundation is structurally weak or it is located on soft ground, elevation may not be possible at all. Furthermore, as flooding worsens in the future, an elevation may no longer keep a house safe from flooding.

Renting or selling a flood-prone home is another alternative. However, it is often difficult to rent or sell a flood-prone property, as potential buyers may be deterred by the cost of flood insurance, not to mention the possibility of their new home flooding. Additionally, many homeowners find it unethical to rent or sell the home as it puts another household in danger. These are some of the reasons why Buy-in views buyouts as the most advantageous solution for properties with a high risk of flooding.

+ Can I get a buyout for my property?

If you are interested in applying for a buyout, you first need to determine if a buyout program is offered in your area. If your community has recently experienced a federally-declared disaster, you may be eligible.

If not, there still might be options available for you. Often, a simple Google search will reveal if your local government is offering a buyout program. You can also check your state or local government’s website, or call City Hall. They should be able to direct you to the right contact person for the program such as a local hazard mitigation officer, emergency manager, or floodplain manager.

If your local government has applied for funding from the state to offer a buyout program, FEMA recommends that you contact your local emergency manager or floodplain administrator to learn more and begin an application. To have the best chance of being eligible for a buyout, your home should be in a Special Flood Hazard Area and be a primary residence, not a commercial building or vacation home.

If you are approved for a buyout, a certified appraiser then determines the pre-flood market value of your house. In most states, this is the amount that will be paid to you, minus any money owed on a mortgage or taxes ⁽¹⁾. The local government then receives ownership of the property. Your house will be removed, and the property will be protected as open space, such as a park or wetland, to eliminate future flooding damage.

(1) Unfortunately, this is often not a quick process. A recent study by the Natural Resources Defense Council (NRDC) found that a FEMA-funded buyout project is often not completed until as long as five years after a flood (Weber, 2019).