Hurricane costs in Texas rise
State records deaths and billions in damages
August 2024 | By Leticia Torres
Hurricanes have claimed lives and caused billions of dollars in damage in Texas, according to the National Centers for Environmental Information (NCEI), an office of the National Oceanic and Atmospheric Administration.
Hurricane season runs from June 1 to November 30. Since the start of this season, Texas has been hit by its second named storm, Hurricane Beryl, which made landfall near Matagorda on July 8 as a Category 1. Nearly 3 million electric customers were without power as the hurricane ripped through southeast Texas. Economic research firm Perryman Group cited preliminary damage estimates in Texas of $1.5 billion, with the net impact potentially much higher.
Of the hurricanes with damage of $1 billion or more that hit Texas between 1980 and 2021, two are among the 10 most expensive in U.S. history, according to the NCEI: Ike (2008, $43.2 billion) ranks ninth and Harvey (2017, $158.8 billion) ranks second.
| Storm | Start date | End date | CPI-adjusted estimated costs (In billions) |
Deaths |
|---|---|---|---|---|
| Hurricane Allen | 7 August 1980 | 11 August 1980 | 2.2 USD | 13 |
| Hurricane Alicia | 17 August 1983 | 20 August 1983 | 9,4 € | 21 |
| Hurricane Rita | 20 September 2005 | 24 September 2005 | $29.2 | 119 |
| Hurricane Dolly | July 23, 2008 | July 25, 2008 | 1,8 € | 3 |
| Hurricane Ike | 12 September 2008 | 14 September 2008 | $43.2 | 112 |
| Hurricane Harvey | 25.08.2017 | 31 August 2017 | 158.8 USD | 89 |
| Hurricane Hanna | 25 July 2020 | 26 July 2020 | 1,3€ | 0 |
| Hurricane Nicholas | 14 September 2021 | 18 September 2021 | 1.2 USD | 0 |
Source: National Centers for Environmental Information (NCEI), an office of the National Oceanic and Atmospheric Administration.
Note: Figures reflect costs adjusted to the Consumer Price Index for 2024. Data as of July 9, 2024.
Initial forecasts for this year’s Atlantic hurricane season called for an extremely active season with up to 23 named storms, including 11 hurricanes and five major hurricanes (Categories 3, 4, or 5 on the Saffir-Simpson Hurricane Wind Scale, a rating based only on a hurricane’s maximum sustained wind speed). That forecast has been updated to 25 named storms, including 12 hurricanes and six major hurricanes (PDF).
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Financial information has been continuously tracking the response to the economic impacts of storms in Texas. We examined the aftermath of Harvey in a special issue, examining the storm’s enormous damage and factors that helped offset the costs, including government aid, insurance payments and an increase in business activity due to rebuilding.
We have also been exploring options to secure the Texas coast and protect people, infrastructure and industry from future storms, including the recent allocation of $500,000 to the U.S. Army Corps of Engineers to advance the multi-billion dollar Ike Dike Project.
