Homeowner Preference for Household-level Flood Mitigation in US: Analysis of a Discrete Choice Experiment

Abstract The Federal Emergency Management Agency (FEMA) offers a portfolio of flood risk mitigation options for high-risk homeowners, hoping to reduce damages. Buyout (home acquisition) and home retrofit (e.g., elevation) are candidates available homeowners. FEMA has recently amended increased its buyout efforts. This study examines homeowners’ stated preference elevation contracts using survey data. Results indicate multiple factors influence the decision participate in acquisition programs. Importantly, we find that preferences vary with timing (whether contract is offered before or after damage event) offered.