The term "100-year flood" is misleading. It is not the flood that will occur once every 100 years. Rather, it is the flood elevation that has a 1% chance of being equaled or exceeded each year. Thus, the 100-year flood could occur more than once in a relatively short period of time. People outside of the 100-year floodplain are free of regulatory requirements, but not of risk. Federally-backed flood insurance is available to people outside of the 100-year flood zone as well.