These zones include the areas outside the SFHA, but within the 500-year flood event. Moderate flood hazard areas, labeled Zone B or Zone X (shaded) are also shown on the FIRM. These floodplain areas are also subject to specific regulations which provide guidance to minimize potential flood risk. If a property is located in the SFHA, flood insurance will be required for federally backed mortgages. A property in a SFHA has a 26 percent chance of experiencing a flood during the lifetime of a 30–year mortgage. SFHAs are labeled as Zones A, AE, AH, AO, or AR. High risk areas are identified as a Special Flood Hazard Area on FEMA maps. These maps are used to set minimum building requirements and to determine flood insurance requirements and rates. FEMA floodplain maps, known as Flood Insurance Rate Maps (FIRMs), show areas of high and moderate to low flood risk.
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