Wildfire risk stretches beyond California to $1.4T exposure
Risk spreads well beyond California
Close to half of all at-risk properties in the top 10 states, or 49.9%, sit outside California.
Colorado and Texas together account for roughly 560,000 at-risk properties and $252 billion in RCV, nearly matching the $277 billion carried by the remaining seven states — Oregon, Arizona, Idaho, New Mexico, Montana, Washington, and Utah — combined.
At the metro level, Los Angeles remains the single most exposed market, with nearly 250,000 at-risk properties and $209 billion in RCV.
Austin, Texas follows as the leading non-California metro, with more than 100,000 at-risk properties and $49.2 billion in RCV, ahead of San Antonio, Denver, and Spokane, Washington.
As the homeowners insurance crisis has evolved into a structural mortgage origination problem, the coverage complications and debt-to-income disruptions once concentrated in California are beginning to reach states where brokers had not previously needed to account for them at the preapproval stage.
