Increased Sea Levels, Tidal Flooding, Erodes $76M in Texas Property Values

Data scientists from First Street Foundation and Columbia University issued a study showing that increased tidal flooding caused by a rise in sea levels, eroded $76.4 million in relative property values along the Texas coast between 2005-2017. Coastal homes in Galveston were the hardest hit, losing $9.1 million in relative appreciation.

Other areas with eroding property values include:

• Bolivar Peninsula ($8.1 million)
• Surfside Beach ($5.7 million)
• Nassau Bay ($4.1 million)

A single-family home on Back Bay Court in Nassau Bay actually lost $81,296 in appreciation over the 12-year period.

The study was conducted by Steven McAlpine with First Street Foundation, and Jeremy Porter with Columbia University. Their research quantifies the observed negative impact of increasingly frequent tidal flooding, driven by sea-level rise, on the housing market.

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