We distinguish between flood hazards – the geophysical flood processes – and flood risks – their socioeconomic consequences. Recent trends in risk have been driven primarily by increased exposure of people and infrastructure. Changes in flood hazards are less clear. Flood hazards comprise several key "ingredients,” including precipitation, land cover, and soil moisture, which can both influence and be influenced by climate change and other human activities. We will examine how these ingredients are changing and explore the implications for current and future flood hazards, focusing mainly on urban and rural areas in the Midwestern United States.