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In January 2020, an extreme precipitation event occurred over southeast Brazil, with the epicentre in Minas Gerais state. Although extreme rainfall frequently occurs in this region during the wet season, this event led to the death of 56 people, drove thousands of residents into homelessness, and incurred millions of Brazilian Reais (BRL) in financial loss through the cascading effects of flooding and landslides. The main question that arises is: To what extent can we blame climate change? With this question in mind, our aim was to assess the socioeconomic impacts of this event and whether and how much of it can be attributed to human‐induced climate change. Our findings suggest that human‐induced climate change made this event >70% more likely to occur. We estimate that >90,000 people became temporarily homeless, and at least BRL 1.3 billion (USD 240 million) was lost in public and private sectors, of …