In September 2024, Hurricane Helene struck Florida’s Big Bend area as a powerful category 4 storm. However, its impact did not end there. The storm continued north to the southern Appalachians, causing severe flooding and extensive damage to roads and towns in Western North Carolina. According to CoreLogic estimates, the total losses from both floods and winds were between $30.5 billion and $4.75 billion.
While properties in Florida, Georgia, and the Carolinas all suffered significant damage from Hurricane Helene, CBRE Econometric Advisors found that hotels and retail properties in North Carolina were particularly affected by the storm’s aftermath.
CBRE Econometrics analysts created an infographic showcasing which counties were impacted by this destructive hurricane. The map highlights areas designated as disaster zones by FEMA as well as commercial buildings within the hurricane impact zone.
The analysts noted that it was not surprising for hotels and retail businesses to bear much of Hurricane Helene’s negative effects since these sectors have been key drivers of economic growth in western North Carolina over recent years. In fact, Asheville has twice more hotel rooms than Charlotte – a larger city located about 130 miles east – making it more vulnerable to such natural disasters.
