Definition
Floodplains are areas prone to flooding during high-water events. If your property sits in one, you're dealing with mandatory flood insurance, building restrictions, and higher development costs. It's not a deal-breaker necessarily, but it's expensive to ignore.
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Floodplains are designated by flood risk zones (100-year, 500-year flood zones). Development in floodplains requires flood insurance and mitigation measures, increasing costs and limiting use.
Pro Tip
Check FEMA flood maps before buying. Floodplain properties require expensive flood insurance you're required to carry. Factor annual insurance costs into affordability calculations—it's not insignificant.
Example
Property in a 100-year floodplain requiring flood insurance and elevated construction.