The shrinkage and swelling of clayey soils is a natural hazard, which may significantly affect buildings. Foundation settlement caused by this geohazard for buildings constructed on expansive soils undergoing a drought period was studied. A soil–structure interaction model is proposed. The hydromechanical coupling is taken into account by using the state surface approach. Settlement is evaluated according to building stiffness, ground hydromechanical properties, surface suction variation, suction profile, and foundation depth. The uncertainties are considered by using the Monte Carlo approach, and an application has been performed for the average settlement assessment of a group of buildings. This paper outlines the significant dependency of the final settlement on the building stiffness. It highlights the benefits of rigid buildings and deeper foundations to reduce vulnerability to this geohazard.