NEW YORK—The Federal Reserve Bank of New York will release “Flood Risk and Basement Housing in New York City: The Impact of Extreme Weather on Vulnerable Housing Stock,” on May 22, 2024, at 10 AM.
The report by the New York Fed’s Community Development team analyzes data on housing, flood risk, and socioeconomic characteristics to map the neighborhoods in New York City where basement apartments are most vulnerable to flooding. The report includes detailed maps showing both flood risk and flood depth in New York City as well as maps highlighting areas with both higher flood risk and higher shares of low- and moderate-income renters than other parts of the city.
The report, which builds on earlier New York Fed research, will follow the release of a separate white paper on the impact of flooding on New Yorkers’ household finances.
The report was developed as part of the New York Fed's Community Development efforts, which have three areas of focus: health, household financial well-being, and climate risk.
