Resilience as Property Value Rebound: Analysis of Expanded Datasets from Hurricanes Ike and Irma
Abstract
For residential structures in America’s coastal communities, resilience is an essential system quality. Such resilience is best conceptualized as a given system’s ability to anticipate, respond to, recover from, and adapt to disruption. Practically, the quantification of parcel-scale resilience requires detailed temporal data and the ability to assess various indicators of system performance variability. This paper considers expanded datasets related to wave and storm surge damage for two catastrophic disruptions: Hurricane Ike in Galveston County, Texas, and Hurricane Irma in Monroe County, Florida. Data mining suggests that appraised property values for single-family residences may be used to characterize a given parcel’s post-disruption economic response and rebound behavior. Such rebound varies, and the authors offer four potential indicators of such variability for future study: the severity of the initial disruption, a parcel’s location, a parcel’s construction, and a given property’s flood insurance coverage. In general, following a hurricane, recorded property values appear to serve as another feasible measure of a given disaster-affected system’s resilient performance. Ultimately, these findings not only offer another mechanism by which community leaders can effectively manage resilience but also suggest that FEMA must continue to improve the National Flood Insurance Program.
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Data Availability Statement
All data, models, and code that support the findings of this study are available from the corresponding author upon reasonable request.
Acknowledgments
This journal paper was submitted in partial fulfillment of the degree requirements for a Doctor of Philosophy (Ph.D.) in Systems Engineering from The George Washington University (GWU). This work was partially supported by the National Institute of Standards and Technology (NIST) Center of Excellence for Risk-Based Community Resilience Planning under Cooperative Agreement 70NANB20H008 between NIST and Colorado State University. The authors would like to acknowledge the assistance of Mr. Michael Stephenson, Galveston Central Appraisal District’s Director of Information Technology, who graciously provided historic property assessment/appraisal data for this study. The authors would also like to acknowledge the technical support offered by Mr. Rob Shaw, the webmaster for the Monroe County Property Appraiser’s Office.
Disclaimer
The views expressed in this paper are those of the authors and do not reflect the official policy or position of the United States Naval Academy, the Department of Defense, the National Institute of Standards and Technology, the Department of Commerce, the United States Government, and/or The George Washington University. References within this paper to any specific commercial products, websites, services, companies, or trademarks do not constitute the authors’ endorsement or recommendation of such items/entities. For any OpenFEMA data referenced within this paper, the Federal Emergency Management Agency and the Federal Government cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency’s website(s) and/or Data.gov.
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Information & Authors
Information
Published In
Natural Hazards Review
Volume 24 • Issue 4 • November 2023
Copyright
© 2023 American Society of Civil Engineers.
History
Received: Feb 3, 2021
Accepted: Apr 24, 2023
Published online: Aug 2, 2023
Published in print: Nov 1, 2023
Discussion open until: Jan 2, 2024
ASCE Technical Topics:
- Buildings
- Business management
- Coastal engineering
- Coastal processes
- Coasts, oceans, ports, and waterways engineering
- Data analysis
- Disaster risk management
- Disasters and hazards
- Engineering fundamentals
- Floods
- Hurricanes, typhoons, and cyclones
- Insurance
- Methodology (by type)
- Mitigation and remediation
- Natural disasters
- Practice and Profession
- Research methods (by type)
- Residential buildings
- Storm surges
- Structural analysis
- Structural behavior
- Structural engineering
- Structures (by type)
- Water and water resources
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