Between decades of pondering this academically and almost a decade of living in hurricane country, I have worked out a system that suits our needs.

We rotate a decent amount of canned goods as they have a long shelf life. I have found I prefer Humanitarian Daily Rations to MREs since no one knows what they are so they are cheaper to acquire. They are vegan to meet their mission of being acceptable to various cultures and religions that prefer to avoid certain animal products, but as long as you like beans they should be fine. We actually stock up on frozen foods when there is a storm approaching since we have several ways of keeping them cold as well as preparing them and they tend not to be what is flying off the shelves.

For water we keep a few cases of bottled, maybe a gallon bottle or two. We have larger jugs to fill with some notice. We also have filtration that can be used to turn local freshwater ponds into a potable option. For much of the year rainwater collection would be more than adequate.