Displaced by severe flooding in Hudson, Florida, Bobby Laramore and his wife lived in a trailer for almost a year, waiting for the day they could return home.
That day finally came this summer, their house, now 12 meters higher than before, was ready. The couple decided to upgrade their home after Hurricane Helene in 2024.
“It’s like we’re moving into a whole new house,” Laramore shared with Tampa Bay 28. “My wife and I have peace of mind from where we are. There’s no price tag on it.” (1)
Elevating a home and its critical amenities above the Base Flood Elevation is a very effective strategy for protecting a home from frequent flooding. In fact, the Laramores aren’t the only Florida couple protecting their home from increasingly devastating storms in the Sunshine State.
Joseph Fairley of their contractor, Unified Foundations, said demand for home elevations across Florida has increased as more residents seek long-term protection from flooding. His company alone has nearly 20 active projects, with twice that many in the permitting phase.
While elevating a home is an effective flood-fighting strategy, it typically costs between $20,000 and $60,000, although complex projects can reach $150,000 or more. It all depends on the size of the house, the type of property and how high the house needs to be raised. (2)
Accessibility is another variable: Upgrading a home often means adding stairs, and homeowners with disabilities will likely pay extra for ramps or elevators; This will potentially add thousands to the total cost.
The investment may be high, but so are the potential losses: Flooding costs the United States between $179.8 billion and $496 billion in damages each year, and those costs rise with stronger storms and rising sea levels. (3)
When it comes to flooding, homeowners in high-risk areas may think it’s a matter of pay now or pay later. For example, the average cost to repair water damage in California was $1,200 to $5,000 in 2024. (4)
For those in high-risk areas prone to flooding, this cost can become an annual expense.
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East Coast states face significantly greater flood risk and account for seven of the top 10 states with the greatest flood risk. Louisiana is at the top of this list, followed by New Jersey and Virginia. (5)
More than one-third (38.4%) of Louisiana residents are at risk of coastal flooding. Florida follows with 17.5% of its residents exposed, making it the only other state above 10%.
Virginia experiences the highest number of coastal flood events at 158.7 per year. New Jersey, meanwhile, has the highest expected annual loss at $682,436 per 10,000 people.
Programs like Elevate Florida aim to increase the resilience of Florida homes by making flood prevention efforts more affordable. Launched by the Florida Division of Emergency Management, the initiative helps homeowners elevate, rebuild or relocate flood-vulnerable homes through structure elevation, mitigation rebuilding, wind mitigation and acquisition/demolition projects. (6)
However, funding is limited. The program received more than 12,000 applications from residents of Florida’s 64 counties during the application period from February to April 2025. Priority is given based on certain criteria, including flood risk factors, and applications are reviewed on an ongoing basis, with many applicants waiting for assistance.
Because federal grant funding covers 75% of the project’s cost, homeowners must invest 25% in the project, and not every homeowner can afford the upfront investment.
FEMA’s Flood Mitigation Assistance grant program also offers funding to various levels of government. For example, Louisiana received $206 million in 2024 (7), while New Jersey was awarded $10 million in 2022 for flood resilience projects. (8)
While upfront costs can be daunting, elevating a home can significantly reduce flood insurance premiums, depending on the elevation level and flood zone.
Upgrading a home in a flood-prone area can reduce insurance premiums by 30% to 60%, while also increasing the home’s property value by up to 25%, according to The Penny Hoarder. (9)
Additionally, flood risk reduction strategies such as installing flood clearances and upgrading facilities can help reduce insurance costs under the National Flood Insurance Program. (10) In Florida, where the Laramores live, the average annual cost of home insurance is $2,625, or $219 per month. (11)
A 30% to 60% discount on home insurance represents significant savings that should be considered when weighing the pros and cons of upgrading a home along with the added property value.
Of course, upgrading a house has its drawbacks. Those who decide to upgrade their home have to find another place to live in the process, in addition to the initial expenses. While elevating a home can protect it from flooding, the heavy rain and high winds that often accompany tropical storms and hurricanes can still damage the home.
But elevating a home in a flood-prone area can not only save your home, but also save you money on flood repair and home insurance costs. And the increase in the value of your property is a nice incentive. For those who enjoy their waterfront home, raising the home above the flood risk level may be worth the initial costs.
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Tampa Bay 28 (1); Today’s Host (2); Joint Economic Committee (3); Good Life Restoration (4); Lending Tree (5); FloridaDisaster.org (6); Bill Cassidy’s website (7); New Jersey Department of Community Affairs (8); Penny Hoarder (9); National Flood Insurance Program (10); NerdWallet (11)
This article provides information only and should not be construed as advice. It is provided without any warranty.
