I'll add some general thoughts (i agree with Brother Esau's points).
Flood risk is not clearly identified by a FEMA map. Being on the edge of an AE zone generally is less "risk" b/c the consequences, i.e. depth and velocity of flooding, is less. However, the majority of $ damages occur within the first 6-inches of flood (floor, electrical, appliances, dry wall), so when you define risk as the expected damages over a 30-yr mortgage, pretty much any property in a 100-yr AE zone shows significant $ risk. Hence why flood insurance is required for a mortgage. Then there is the potential lose of life, possessions, displacement, etc.
Living in an AE zone is not ideal, but sometimes as with life, you weight the pros/cons and make that call. And not all AE zones are equal... Some can be extremely fast moving water with the ability to cause structural damage, some can be backwater slow moving where you have days notice to move out your possessions.
I guess if you want to make a call "yes or no" based on something defined, look at your insurance premium plus deductible. Cost that out over the period you expect to pay. Also look at what a flood policy covers (check the limits), because often times it will not cover a like-for-like replacement depending on the quality of your fit out. And if you're thinking "i'll buy an old house and if it floods to a renovation with the insurance money" that doesn't quite work out as FEMA has put in place practices that discourage if not flate out prevent that.
Also, recognize that flooding will likely get "worse" for the majority of the country (though it's a very technical topic, so it's not always this way) due to forecasted climate change. Already, the industry has updated rainfall amounts and it is clear that infrequent events are becoming more frequent.
I'm a PE and develop flood models and FEMA maps for a living. I also quantify risks and design systems to manage flooding (dams, levees, etc.). As Brother said, it is not "if" but "when". Personally, I would avoid at all costs living in an AE zone (even if insurance were free!), because there are generally other options available, so why take the risk with my home?