Hurricane Helene In recent days, the disaster has left a trail of devastation in several Southeastern states that could cost tens of billions of dollars in economic costs, according to a preliminary estimate by Moody’s Analytics.

At least 106 people were confirmed dead in Florida, Georgia, South Carolina, North Carolina, Virginia and Tennessee after Helene made landfall in Florida’s Big Bend region late Thursday as a Category 4 hurricane. Helene brought winds of up to 140 miles per hour and a devastating storm surge torrential rains and historic floods in inland areas in the southeast.

“It is far too early to assign exact costs to Helene,” Moody’s Analytics wrote on Friday, saying it would publish a more precise estimate in the coming weeks. “But based on what is known about the storm so far, there is enough information to provide a preliminary loss and damage figure.”

Flooding isolates communities in North Carolina as the death toll rises above 100 across southeast Helene

Moody’s Analytics’ preliminary analysis estimated that Hurricane Helene caused property damage in the range of $15 billion to $26 billion, but noted that there is greater uncertainty in estimating property damage. It was estimated that the economic disruption caused by the closure of schools and offices caused $5 billion to $8 billion in lost output. This puts the preliminary total cost estimate in a range of $20 billion to $34 billion.

Western North Carolina communities like Asheville were particularly hard hit by flooding caused by Helene’s torrential rains. (Photo by Melissa Sue Gerrits/Getty Images / Getty Images)

The report noted that the storm was somewhat similar to last year’s Hurricane Idalia, but noted that Helene maintained its Category 4 status longer than Idalia, resulting in stronger winds and heavier storm surges Coastal areas. Storm surge in Florida’s Big Bend region reached over 15 feet, while cities like Tampa and Clearwater Beach experienced their highest storm surge in decades.

“Another significant difference concerns the size of Helene, one of the largest Gulf hurricanes in recent memory. This added to its storm surge and resulted in the hurricane affecting a larger portion of the Southeast after weakening to a tropical storm,” Moody’s wrote.

SOUTHEAST IN FULL RECOVERY MODE AFTER DEADLY HURRICANE HELENE SLAMS REGION

Storm damage at Biltmore Village near Asheville, North Carolina, after Hurricane Helene on September 28, 2024. (Photo by Sean Rayford/Getty Images / Getty Images)

communities in the West North Carolina were hit particularly hard by the storm, as catastrophic flooding destroyed hundreds of roads and bridges and left some communities isolated due to high water levels and damage to infrastructure, preventing crews from providing residents with much-needed supplies such as food, water and fuel .

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

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

North Carolina lawmakers warn that recovery from Hurricane Helene could take “years.”

Roads near Peachtree Creek near Atlanta are flooded after Hurricane Helene caused heavy rainfall overnight on September 27, 2024. (Photo by Megan Varner/Getty Images / Getty Images)

President Biden issued a disaster declaration for North Carolina over the weekend and deployed more than 800 Federal Emergency Management Agency employees to the region.

The number of people without power has fallen to about 2.1 million as of Monday morning, thanks to the efforts of utility crews.

Hurricane Helene caused a historic storm surge along Florida’s Gulf Coast, particularly in the Big Bend region. (Joe Raedle/Getty Images / Getty Images)

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Moody’s RMS Event Response plans to release a more detailed estimate of insured losses caused by Hurricane Helene in the coming weeks.

FOX Weather’s Stephen Yablonski contributed to this report.