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Hurricane Helene’s devastation could cost tens of billions, preliminary estimate says

hurricane helen The virus has devastated several southeastern states in recent days, with preliminary estimates from Moody's Analytics saying economic losses could be in the tens of billions of dollars.

At least 106 people were confirmed dead in Florida, Georgia, South Carolina, North Carolina, Virginia and Tennessee after Helen made landfall in Florida's Big Bend region as a Category 4 hurricane late Thursday. Helen brought winds of 140 mph and devastating storm surge. Torrential rains and historic flooding to the interior of the southeast.

“It is still too early to assign precise costs to Hellen,” Moody's Analytics wrote on Friday, saying it would issue a more precise estimate in the coming weeks. “But based on what is known so far about the storm, there is enough information to generate preliminary loss output and damage numbers.”

Helen death toll rises above 100 in Southeast, flooding strands North Carolina communities

A preliminary analysis by Moody's Analytics estimated property damage from Hurricane Helen to be in the range of $15 billion to $26 billion, but noted that there is further uncertainty in property damage estimates. The economic disruption caused by school and office closures is estimated to result in between $5 billion and $8 billion in lost production. This puts the total preliminary cost in the range of $20 billion to $34 billion.

Communities in western North Carolina like Asheville have been particularly hard hit by flooding brought on by Helen's torrential rains. (Photo by: Melissa Sue Gerrits/Getty Images/Getty Images)

The report noted that the storm was similar in some ways to last year's Hurricane Idalia, but noted that Helen remained at Category 4 status longer than Idalia and brought stronger winds and more intense storm surge. . coastal area. Storm surges in Florida's Big Bend region exceeded 15 feet, marking the highest storm surges in decades for cities such as Tampa and Clearwater Beach.

“Another major difference has to do with Helen's size, which is one of the largest Gulf hurricanes in recent memory. This will contribute to the storm surge that will impact large swathes of the Southeast after the hurricane weakens to a tropical storm. “It was a trigger,'' Moody's wrote.

Southeast in full recovery mode after deadly Hurricane Helen hits region

hurricane helen north carolina

Storm damage seen in Biltmore Village near Asheville, North Carolina, in the aftermath of Hurricane Helen on September 28, 2024. (Photo by Sean Rayford/Getty Images/Getty Images)

western community north carolina Catastrophic flooding has destroyed hundreds of roads and bridges, leaving some communities stranded due to high water and damaged infrastructure, leaving crews unable to reach residents with essential supplies such as food, water and fuel. The area was particularly hard hit by the storm.

North Carolina Governor Roy Cooper noted that Helen dumped “10 to 29 inches of rain on the mountains, causing life-threatening flooding and landslides.”

Dozens of people are now confirmed dead in North Carolina, and hundreds remain missing due to lack of power and communications access.

North Carolina lawmaker warns Hurricane Helen recovery could take 'years'

hurricane helen georgia

Roads flooded near Peachtree Creek near Atlanta on September 27, 2024, after Hurricane Helen brought heavy rain overnight. (Photo by Megan Varner/Getty Images/Getty Images)

president biden Over the weekend, the state approved a major disaster declaration for North Carolina, sending more than 800 Federal Emergency Management Agency personnel to the area.

The number of people without electricity has been reduced to about 2.1 million as of Monday morning, thanks to the efforts of power company staff.

hurricane helen

Hurricane Helen brought historic storm surge to Florida's Gulf Coast, especially the Big Bend area. (Joe Radle/Getty Images/Getty Images)

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Moody's RMS Event Response plans to provide more accurate estimates of insured losses from Hurricane Helen, which are expected to be released in the coming weeks.

FOX Weather's Stephen Yablonski contributed to this report.

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