New analysis by online real estate site Zillow highlights how climate change affects real estate across the U.S., with trillions of dollars’ worth of real estate facing damage from flood, fire or extreme wind.

Eleven major metro areas have at least $100 billion of residential real estate facing a high fire risk, with six of those locations in California.

The Los Angeles metro area has the highest total value of homes with a high risk of fire, at $831 billion.

U.S. homes facing major wind risk, a risk score of 5 or higher, according to First Street data displayed on for-sale listings on Zillow are worth at least $17 trillion in total, equivalent to more than half of the U.S. GDP.

Homes with an increased fire risk are valued at $9.1 trillion and homes with major flood risk are worth a cumulative $7 trillion.

“The risk of natural disasters and rising insurance costs are profoundly reshaping the housing market. Home buyers are paying attention,” said Kara Ng, a senior economist at Zillow. “With trillions of dollars in real estate vulnerable to these risks, informed decision-making for what is the biggest purchase of many buyers’ lives has never been more critical.”

The New York City metro area stands above all other major markets with the highest total value of homes at major risk of flood and extreme wind, the analysis showed.

For flood risk, the total value of homes at risk in New York ($593 billion) edges out Miami ($580 billion), while no other major metro exceeds $300 billion at risk.

New York homes with a high wind risk total roughly $3 trillion in value, with the value of Miami and Boston homes at risk also exceeding $1 trillion.

More than 80 percent of home shoppers consider climate risks when looking for a new home, according to the online realtor.

The report found that many high-risk areas still retain high home values.

Of homes with extreme flood risk, a risk score of 9 or 10, listed for sale in June 2024, the median list price was 22 percent higher than for homes with minor risk scores of 1 or 2.

The data also showed that the median list price for homes with extreme fire risk was 49 percent higher than homes with minor fire risk.

Homes with extreme flood risk are worth just under $2 trillion nationwide, and homes with extreme fire risk are worth a total of $447 billion.

Consumers can explore climate risk data when browsing listings on Zillow.

Insights into five key risks — flood, wildfire, wind, heat and air quality — are available on the search map and directly on for-sale listings, complete with risk scores and interactive maps.