Flooding, storms, and other hazardous conditions cost billons of dollars in damages annually across the United States. Hazard mitigation programs attempt to break the cycle of repeated disaster damage by identifying and addressing a community’s disaster vulnerabilities in anticipation of future events. One such hazard mitigation solution is the voluntary acquisition of flood-damaged properties from their owners, using the federal hazard mitigation grant program and other state and federal grant programs. The acquisition and restoration of these floodplain properties can increase community resilience while improving wildlife habitat, enhancing ecosystem services, and providing much-needed open space and recreational facilities to a community. Buyouts present an opportunity for communities to create public assets while restoring the ecological integrity of the floodplain and strengthening the community’s resilience to future disasters.