Following destructive fires in Pacific Palisades and Altadena, rental prices near these areas have surged significantly. An analysis of Zillow data illustrates a 4.8% rent increase near the Palisades fire and a 5.2% increase near the Eaton fire, compared to just 2.2% in areas further away. Experts suggest that the increase is largely driven by demand from displaced residents wanting to remain in their communities, even as some landlords engaged in price gouging. Local government responses varied, with eviction protections implemented in certain areas but not others. FEMA has not provided rental assistance, citing sufficient housing availability.
Several months after fires tore through Pacific Palisades and Altadena, rent near burn areas is rising faster than elsewhere in Los Angeles County.
In ZIP codes within three miles of the Palisades fire, rent increased 4.8% from December to April, while rent near the Eaton fire jumped 5.2%.
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