AccuWeather Estimates Damage and Economic Loss from Milton at $160B to $180B

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The total damage and economic loss from Hurricane Milton will be between $160 billion and $180 billion, according to a preliminary estimate from AccuWeather on Thursday.

After making landfall as a Category 3 hurricane, Milton will go down as one of the most damaging storms in Florida history, along with Hurricane Helene’s estimated total damage and economic loss of $225 to 250 billion two weeks ago.

Contributing factors to the impact of Hurricane Milton are widespread storm surge along parts of the populated west coast of Florida south of Tampa Bay down to Fort Myers, with some surge south of that as well as on the east coast of Florida and Georgia north of the hurricane’s track, according to AccuWeather.

The most destructive storm surge, with possible water levels of 15 feet or higher, occurred i between Sarasota and Englewood. According to reports from the areas, water levels rapidly rose in a “violent manner,” flooding homes and businesses. A damaging storm surge of 6 to 10 feet occurred farther south along Florida’s west coast including Punta Gorda, Fort Myers and Naples, according to AccuWeather.

AccuWeather meteorologists said that since the storm made landfall near Siesta Key, the maximum damage scenario was averted. Had the storm made landfall 20 miles farther north, the total damage and economic loss from the storm would have eclipsed $250 billion dollars.

Winds gusting between 100 and 110 mph and torrential rain resulting in flash flooding impacted the entire Tampa Bay metropolitan area. Wind gusts of 70 to 90 mph and extreme rainfall rapidly spread over the heavily populated Interstate 4 corridor east of Tampa to Orlando and Daytona Beach, resulting in further wind damage, power outages and flooding. Nearly 4 million addresses were reported out of power across Florida, according to AccuWeather.

By comparison, Hurricane Ian in 2022 caused $180 to 210 billion in total damage and economic loss. In 2017, Hurricanes Harvey caused $190 billion in damage, and Sandy in 2012 caused $210 billion in damage.

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