ABSTRACT

Premiums Under the National Flood Insurance Program as a Share of Household Income   [open pdf - 193KB]

"In September 2017, the Congressional Budget Office [CBO] published The National Flood Insurance Program: Financial Soundness and Affordability. 1 This letter responds to a request from your staff for additional information about that report. A section of that report compares premiums under the National Flood Insurance Program (NFIP) with household income. Figure 5 (page 22) illustrates the finding that for most census tracts included in the analysis, the median premium for a policy on a primary single-family home was between 0.5 percent and 1.5 percent of the median household income in that census tract.2 (CBO did not have access to data on household income for individual NFIP policyholders, so the agency relied on median household income by census tract.)"

Publisher:
Date:
2017-10-06
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: https://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations