$46 Billion in Housing Lay Within the 2025 Los Angeles Wildfire Zones

Key findings from Zillow’s analysis: According to Zillow data, $46 billion in residential housing value across 19,605 homes lay within the Palisades and Eaton fire perimeters. One year later, home values near the fires have broadly tracked Los Angeles metro trends, while for-sale supply and rents show more lasting impact.

In terms of both human and economic impacts, the Palisades and Eaton fires that burned through parts of the Los Angeles area in January 2025 were among the most costly natural disasters in U.S. history. The human toll was significant, including at least 30 deaths, while the total property damage has been estimated between $28 billion and $53.8 billion. 

Before containment, the fires burned through 40,000 acres, threatening roughly 20,000 homes, including multifamily units. Collectively, these homes were worth about $46 billion, and reports indicate that more than 11,000 single-family homes were destroyed. One year later, home values near areas affected by the fires are little changed, while inventory and rents have seen some lasting impacts.

Here is a look at what Zillow data shows about the scope of housing exposure within the perimeters of the Palisades and Eaton fires, as of December 31, 2024: 

Home values in areas surrounding the fires have largely tracked broader Los Angeles metro trends. In the five miles outside the fire perimeters, the median home value fell 1.7% from December 2024 to November 2025, similar to declines seen farther from the fires.

The most durable impacts have been seen in for-sale supply. Within five miles of the fire perimeters, total inventory jumped sharply in the immediate aftermath and remains elevated nearly a year later. New listings have followed a similar pattern, rising faster near the fires than elsewhere in the Los Angeles metro area.

Sales activity has shown mixed results. Newly pending listings near the fires dipped in the immediate aftermath, but the increase from December 2024 to November 2025 was about twice as strong near the fires as it was elsewhere in the Los Angeles metro. 

In the rental market, median list rents showed little immediate disruption within five miles of the fires. Over time, rent growth in these areas has run somewhat higher than elsewhere in the metro.

According to First Street data that is available on Zillow for-sale listings, 94% of properties that burned were labeled as having “severe” or “extreme” wildfire risk. Home shoppers on Zillow can access this information regarding the risk of wildfire and other natural disasters by clicking through to First Street’s website via the climate risk module on all Zillow for-sale listings.