Floods are the most frequent and costly natural disaster in the United States, with expected costs estimated to be $20 billion per year. These costs are expected to increase over time as climate change brings more sea level rise and extreme rainfall events intensify. Like many environmental risks, information about flood risk isn't always readily available and can be difficult to comprehend. Even when flood risk information is available, the cost of insurance and defensive investments can be prohibitively expensive.

Using detailed administrative records for almost every legal resident and universe of establishments in the United States, our research provides systematic evidence on flood risk in the United States. We are working to better understand who is at risk of flooding, who benefits from defensive investments, what the consequences of flood events are, and how recovery resources are allocated. We are also working to better understand how sea level will affect communities and businesses in the United States. Our current work in this area focuses on patterns and trends in exposure risk.