 This paper proposes a methodology to estimate flood risk for a single family home located outside the special flood hazard area, SFHA. It uses average annual loss, AAL, as a measure of flood risk and estimates the impact of elevating the house by different amounts. The study found that elevating the house by one or four feet above the first floor height, FFH0, reduces the risk of flooding by up to 0.18% of the replacement cost value, VR. This article was authored by Ayatollah C., Ayatollah C., Ayatollah C., and others.