This doesn't 100% answer your question, but since damage to homes, businesses, and government buildings goes into these estimates, then it's likely a safe assumption that places with more population will have more of these structures and higher costs. This is from the article:

>The National Oceanic and Atmospheric Administration is responsible for calculating the costs of individual natural disasters. There are three main categories of direct or indirect costs that go into these estimates. These include physical damage to homes, businesses and government buildings, damage to property inside these buildings, and the costs associated with businesses being shut down or people losing their homes.
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>The cost estimates don’t include environmental damages, any physical or mental healthcare costs, or larger supply chain impacts. The government also doesn’t attempt to put a price tag on the lives lost during a disaster.
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>Because of the way disaster costs are calculated, the estimated totals are considered conservative evaluations. The true costs associated with natural disasters are difficult to capture due to the lack of immediate data and the hard-to-measure long-term costs.

And to answer the inflation question, the data here is adjusted for 2021 dollars.