Asking rents skyrocket as LA fires destroy homes. $29,000 a month

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.”

https://laist.com/news/housing-homelessness/los-angeles-palisades-fire-housing-rent-price-gouging-law-california-zillow-listing