Climate change is already imposing modest to significant costs on U.S. households, particularly affecting poorer families and those in the Gulf Coast, Florida, and parts of the West. A paper in the Fall 2025 Brookings Papers on Economic Activity estimates these costs range from $400 to $900 annually per household, with 10% of counties facing over $1,300 in annual costs under a less-conservative scenario.
The analysis focuses on household budget impacts, including home insurance premiums increasing by $75 to $360, and mortality costs from extreme weather. For instance, per-household costs from wildfire smoke deaths average $65 to $100. The paper highlights the regressive distribution of these costs, with poorer households bearing a higher share of increased cooling and insurance expenses, alongside greater mortality risks from extreme heat and particulate matter. It contrasts these costs of climate inaction with estimates for climate policies, suggesting well-designed policies would likely incur lower household costs. Authors warn that costs will rise steeply if continental U.S. temperatures, already up 2.5 degrees Fahrenheit since 1970, continue their forecasted ascent, potentially becoming "many times worse" without serious policy changes.
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