The Economy

Hurricane Helene Has Caused Tens of Billions of Dollars in Damage, Economic Loss

Those numbers could rise as we learn more about the storm's path of devastation.

By Staff September 30, 2024

Sunlight fades on massive Hurricane Helene in this image captured by the Cooperative Institute for Research in the Atmosphere at Colorado State University and the National Oceanic and Atmospheric Administration.

As Hurricane Helene carved a path of destruction up the Gulf Coast and across the Southeast U.S., economic research company Moody's Analytics says it expects to see $15 billion to $26 billion in property damage as a result of the storm.

Meanwhile, AccuWeather, which originally estimated Helene's damage to be between $95 billion and $110 billion, has increased its estimate of the total damage and economic loss from Helene to between $145 billion and $160 billion. 

According to AccuWeather, Helene will go down as one of the most damaging storms in U.S. history, along with Hurricane Ian (2022), which caused between $180 billion and $210 billion in total damage and economic loss; Hurricane Harvey (2017),  $190 billion in total damage and economic loss; Hurricane Irma (2017), which caused $80 billion in total damage economic loss; Superstorm Sandy (2012), which caused $210 billion in total damage and economic loss; and Hurricane Katrina (2005), the costliest storm on record, with $320 billion in total damage and economic loss as adjusted for inflation. 

Hurricane Helene also caused never-before-seen levels of storm surge throughout the Tampa Bay region, including Sarasota and Manatee counties, where storm surge was between 5-7 feet. 

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