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I have lived waterfront in Lago Vista for 8 years and my main living area is 6 inches below the "100 year flood plain". We've experienced about 4 major floods since moving here, and not once has the water even gotten close to our home. Yes, it's been in the yard a few times and no, flood insurance is not that expensive. We knew it would flood our yard when we bought the house, but no, it doesn't cover the entire city up. Only a fraction of the homes (the properties along the shoreline, of course and those adjacent within the flood plain) are affected by the fluctuating lake levels. There are plenty of homes (lots and lots and lots of homes) on hilltops and hillsides that are not prone to lake flooding ever. (If they did, Austin would be underwater first.....)
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