Real estate losses from the devastating Palisade and Eton wildfires could exceed $30 billion, according to a new analysis by the Los Angeles Times.
The newspaper compared the estimated assets values from Los Angeles County evaluators to Cal Fire ratings for structures damaged or destroyed in the January fire.
56% of all structures in the Pacific Ocean’s Palisade were levelled by the Palisade fire, with almost half of the Altadena facilities being destroyed by the Eton Fire, data shows. This included hundreds of commercial buildings, but most of the lost structures were homes.
Palisades updated damage assessment map for Eaton Wildfires
“Overall, just under 13,000 households have evacuated due to two fires. They decided that almost 9,700 detached houses and condominiums, almost 700 apartment units, more than 2,000 units of duplex and bungalow courts, and Cal fires. “It was because it was destroyed or severely damaged from 373 mobile homes,” the Times reported.
The analysis shows the property losses amount to $22 billion and $7.8 billion in Altadena.
Accuweather estimates total losses and economic losses from Palisades and Eaton Wildfirs in the range of $250 billion to $275 billion. This figure includes not only direct damage to property, but also costs of cleanup, infrastructure repairs, temporary housing, and business and employment losses.
Malibu, California – January 15: Ruins of beachside houses burned along the Pacific Coast Highway during the Pallisard Fire in Malibu, California on Wednesday, January 15th, 2025 (Jeff Gritchen/Media) Registered via Newsgroup/Orange County Getty Images) Aerial view in Los Angeles’ Pacific Palisade district, leaving a lonely residence in the devastation from the Palisard Fire. January 27, 2025 (AP Photo/Jae C. Hong) Aerial view shows the home burning in the Eton Fire in Altadena, California on February 5, 2025. (Mario Tama/Getty Images) From left, Glendale Fire Station captain Chris Gerungan and his wife Allison were founded in the ruins of a family home that was destroyed by Eton Fire in Altadena, California on Saturday, January 11th. Helps you search for the. 2025. (AP Photo/Mark J. Terrill)
The fire that erupted during the Santa Ana wind storm on January 7th burned nearly 38,000 acres and claimed 27 lives.
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