Asking rents skyrocket as LA fires destroy homes

Rental housing prices in L.A. are spiking as historic fires burn in Southern California, forcing thousands of residents who’ve lost homes to scramble to find a new place to live.

LAist spotted one Zillow listing for a furnished home in Bel Air that was posted Saturday morning at $29,500 per month. That’s a nearly 86% price hike from September 2024 according to the listing’s price history, which shows the home previously listed for $15,900 per month.

When an LAist reporter called the listing agent, Fiora Aston with Compass, she said dozens of prospective tenants who’ve lost homes to the fires have been contacting her about this and other listings on L.A.’s Westside. When LAist asked why the advertised rent for the Bel Air home had risen so sharply, she said she was getting another call and hung up.

“It’s crazy,” Aston said, before ending the call. “I’ve been in the business for 35 years. I’ve never seen anything like this. People are desperate. There’s so many families without a house.”

LAist reached out to Compass’ media relations team about the listing in Bel Air, but did not immediately receive a response. By Saturday afternoon, the listing had been removed. Aston texted later that afternoon that a family member had moved in. LAist asked to interview the family member and property owner, but Aston declined.

California has laws against post-disaster price gouging

Gov. Gavin Newsom has declared a state of emergency in connection with the Palisades Fire, which has already destroyed an estimated 5,000 structures in upscale neighborhoods near L.A.’s coastline. The governor’s emergency declaration includes a ban on price gouging, which is defined as any price increase of more than 10% compared to pre-disaster prices.

California Attorney General Rob Bonta told LAist partner KCAL News earlier this week that the ban on price gouging applies to housing as well as other essential goods like food, transportation and medical supplies. Bonta said residents should report suspected price gouging through his office’s website.

“If prices look really out of whack — if they look like they’ve increased from what you’re used to — report it to us,” Bonta said. “We’ll take it from there. We’ll evaluate it. We’ll hold folks accountable and enforce if necessary.”

Rental listing price histories show post-fire spikes

Journalists for other outlets have reported on listings where asking rents have jumped in the wake of the fires. The New York Times reviewed Zillow listings on L.A.’s Westside and found asking rents rising between 15% and 64% since Tuesday. One agent reportedly lowered the asking rent on a property in Encino from $11,500 per month to $9,800 after a journalist with the Los Angeles Times asked why the asking rent had risen nearly 28% in recent days.

UCLA urban planning and public policy professor Michael Lens said he expects L.A. rents — already considered unaffordable for many families — to be driven up by the immediate influx of people all looking for scarce housing at the same time.

“It will put a squeeze, especially on the adjacent communities,” Lens said. “That might be particularly acute from the Palisades effect on the Westside.”

Details of the Bel Air listing

Located on Casiano Road in Bel Air, the four-bedroom home that was listed on Zillow at $29,500 was described online as a “fully furnished, meticulously restored Mid-Century Modern home.” That listing described the home as “perched in a serene canyon setting” with “breathtaking views of the surrounding landscape, including the iconic Getty Museum.”

The home is currently located in an evacuation warning zone due to the ongoing spread of the Palisades Fire. Aston told LAist the home was not being shown in person due to those warnings. “We decided we’re not going to be doing any showing until next week,” Aston said.

She said the owner had taken it off the market a few months ago, but later decided to list it again.

“When this whole situation happened, I told her… people are desperate, and you can probably get good money,” Aston said. “She has a second home, so she moved into her second home, and this house is for lease.”

After Aston disconnected the call, LAist texted her to ask if she was familiar with California’s disaster-related price gouging law. She texted back, “Sorry can not talk right now,” then mentioned another listing in Mar Vista where she said one person offered $10,000 above the $15,000 asking rent.

She ended her text, saying, “Supply & demand.”

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