10 Most Expensive Natural Disasters in U.S. History

Hurricanes Katrina and Harvey were the costliest natural disasters to date in the United States, with estimated damages well over $100 billion. In general, hurricanes tend to have greater economic consequences than other types of weather and climate events, as seven of the 10 most expensive multi-billion-dollar disasters in U.S. history have been hurricanes.

Read on to learn more about the most expensive natural disaster along with the death toll and other significant impacts of several other costly weather and climate disasters.

1. Hurricane Katrina

Hurricane Katrina is tied for the title of the costliest natural disaster in American history as it resulted in an estimated $125 billion worth of damage. In addition, it was the second-deadliest hurricane to hit the United States, with an estimated death count of 1,833 people.^[1]

Katrina initially made landfall around Miami, Florida, as a Category 1 tropical cyclone on August 25, 2005, but rose to Category 3 by the time it hit the coastlines of Louisiana and Mississippi. Along with causing storm surge damage at the coast, Katrina created high winds and inland flooding in eight different eastern states.^[1]

The storm had a particularly devastating impact on New Orleans, Louisiana, where more than 75% of residents were affected by floodwaters and the total population dropped by 50% within a year of the structural failure of the city’s levees amid Hurricane Katrina.^[2]

2. Hurricane Harvey

Hurricane Harvey also had an estimated cost of $125 billion, though its death toll of 89 was much smaller than Katrina’s. Exactly 12 years after Katrina first hit the United States, Harvey made landfall near Rockport, Texas, as a Category 4 hurricane on August 25, 2017.^[1]

Harvey produced a significant amount of rainfall, with thousands of people experiencing more than 50 inches of rain and millions experiencing more than 30 inches. This caused widespread flooding, which led to the displacement of over 30,000 people and damage to or the destruction of over 200,000 homes and businesses.^[1]

3. Hurricane Ian

The most recent entry on this list, Hurricane Ian struck the island of Cayo Costa, Florida, on September 28, 2022. Predominantly a Category 4 hurricane, it had sustained winds of 150 miles per hour, caused roughly $111.8 billion worth of damage in total and killed 152 people.^[1]

Ian caused major portions of coastal communities in Florida like Captiva, Sanibel, Pine Island and Fort Myers Beach to wash away. On September 30, the storm hit South Carolina as a Category 1 hurricane, leading to more flood damage including the destruction of multiple piers near Myrtle Beach.^[1]

4. Hurricane Maria

While it was only the fourth-most expensive hurricane in United States history with an estimated cost of $90 billion, Hurricane Maria was by far the deadliest, as it resulted in the loss of 2,981 American lives. There were some casualties in the U.S. Virgin Islands and the mainland United States but the overwhelming majority of damage occurred in Puerto Rico.^[1]

Maria first made landfall on September 19, 2017, and devastated Puerto Rico as a Category 4 cyclone. Resultant flooding and mudslides caused significant damage to the territory’s transportation, agriculture, communication and energy infrastructure.^[1] As of February 2024, Puerto Rico is still in the process of recovering from the 2017 hurricane season and earthquakes it experienced in 2019 and 2020.^[3]

5. Hurricane Ida

On August 29, 2021, Hurricane Ida made landfall close to Port Fourchon, Louisiana, as a Category 4 storm with sustained wind speeds of 150 miles per hour. In total, Ida contributed to $73.6 billion worth of property damage and 96 deaths. Notably, every single home in Grand Isle, Louisiana, was damaged by the tropical storm.^[1]

Ida caused major damage to southern Louisiana’s energy infrastructure, with parts of New Orleans going without power for almost a week. As it moved northeastward, the storm also created flash flooding in states like Pennsylvania, New Jersey and New York, damaging many homes, businesses and vehicles in the process.^[1]

6. Hurricane Sandy

Unofficially known as a superstorm, Hurricane Sandy merged with a developing nor’easter to cause various types of severe weather-related damage including wind, rain and snow damage in more than a dozen East Coast states around Halloween 2012. Because of Sandy, the New York Stock Exchange shut down for two business days in a row for the first time since 1888. The superstorm ultimately caused 159 fatalities and $65 billion worth of damage within the U.S.^[1]

7. 1987-89 Drought

The costliest non-hurricane natural disaster in United States history was the drought that developed in late 1987, became especially severe through the middle of 1988 and then tapered off before reemerging from April to July 1989. At its peak in 1988, the drought affected 40% of the country.^[4]

The impact of the dry weather and high temperatures was especially noticeable in regions like the Midwest and High Plains, which experienced drought conditions rivaled only by those of the Dust Bowl in the 1930s. Because of the drought, the United States experienced approximately $51.8 billion in economic losses. Additionally, there were more than 5,000 heat-related deaths attributed to the drought.^[4]

8. Hurricane Irma

Next up on the list is Hurricane Irma, which cost $50 billion and killed 97 Americans. Irma initially hit the U.S. Virgin Islands on September 6, 2017, as a Category 5 hurricane and then made its way to the mainland United States as a Category 4 hurricane.^[1]

Irma had a particularly intense effect on the Florida Keys, which experienced the destruction of 25% of its buildings. It also caused substantial storm surge damage in cities like Jacksonville, Florida, and Charleston, South Carolina. Notably, Irma maintained its peak wind speed of 185 miles per hour for a whopping 37 hours.^[1]

9. 2012-13 Drought

During most of 2012, a drought occurred throughout roughly half of the country, impacting states from California in the west to Georgia in the east and resulting in poor harvests for several crops including corn, sorghum and soybeans. The drought became less severe beginning in 2013 but still affected a sizable number of western states. Across those two years, drought conditions caused $40.4 billion in damage and 176 deaths.^[1]

10. 1994 Northridge Earthquake

Rounding out the list of the country’s top 10 most expensive natural disasters is the costliest earthquake in United States history, which ravaged the Northridge neighborhood in Los Angeles, California, on January 17, 1994. The seismic event caused $40 billion worth of damage including the destruction of 40,000 homes. In addition, roughly 60 people died and at least 7,000 were injured as a result of the 1994 Northridge earthquake.^[5]