110,000 homes worth $20B in flood-affected areas in Baton Rouge region, analysis says
The floodwaters that swept through south Louisiana over the past week may have reached 31 percent of the homes in Baton Rouge and the eight surrounding parishes, according to a detailed but preliminary economic analysis of the disaster released Friday.
The report from the Baton Rouge Area Chamber translates that figure into an estimate of roughly 110,000 homes, valued at $20.7 billion, that could have flooded because they were located in neighborhoods where water pooled. The homes included in the analysis are spread across East Baton Rouge, Livingston, Ascension, East Feliciana, Iberville, Pointe Coupee, St. Helena, West Baton Rouge and West Feliciana.
The potential damage figure is far higher than any put forward thus far. State officials have said over the past week that at least 40,000 homes were thought to have flooded, although BRAC officials cautioned that the 110,000 homes in flooded areas may not all have taken on water, accounting for some of the discrepancy.
The new analysis makes clear that Livingston Parish was the hardest-hit parish, with a whopping 86.6 percent of its homes located in flooded areas. Just 21.7 percent Livingston Parish homes are covered by flood insurance, suggesting that perhaps three-fourths of those who flooded will be forced to go into debt or tap savings to rebuild. – READ MORE