$275B Estimated To Rebuild LA: 'One of The Costliest Disasters In U.S. History'

LOS ANGELES, CA — Whole neighborhoods, beloved restaurants, parks and public infrastructure have been destroyed in the catastrophic fires that are have burned in Los Angeles for a week straight. The damages and economic loss could total some $275 billion, according to the latest estimate from AccuWeather.

The weather hub nearly doubled its preliminary estimate to between $250 billion and $275 billion in just a few days.

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"These fast-moving, wind-driven infernos have created one of the costliest wildfire disasters in modern U.S. history,” AccuWeather Chief Meteorologist Jonathan Porter said. “Hurricane-force winds sent flames ripping through neighborhoods filled with multi-million-dollar homes. The devastation left behind is heartbreaking, and the economic toll is staggering."

The Palisades Fire, dubbed the most devastating wildfire in the region's history, had charred 23,713 as of Tuesday. In the coastal Pacific Palisades and Malibu areas where the fire is still burning, median home values are over $2 million, AccuWeather reported.

At least 12,000 structures have been destroyed, including homes, outbuildings, mobile homes, RVs, trailers, businesses, commercial properties and more. So far, some 63 miles of Los Angeles County have been decimated.

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Almost all of Altadena remains closed — an unincorporated community that is home to some 42,000 people — amid toxic debris, downed trees and power lines. It's unclear how extensive the damage is in Altadena, where whole corridors were leveled.

Supervisor Kathyrn Barger described the scene as a "warzone" when she surveyed the damage last week. "You can go blocks where there are no homes."

The fire has the potential to become the worst wildfire in modern California history if a large number of additional structures are destroyed in the coming days, Porter added.

AccuWeather's latest estimate surpasses the damage and economic loss numbers for the historic and deadly 2020 wildfire season. What's more the economic loss in LA has surpassed the devastating Maui wildfires of 2023, which were between $13 billion to $16 billion. And to further put the catastrophe into context, Porter says the LA Fires have surpassed the costly $225 to $250 billion estimate for damages and economic loss after 2024's Hurricane Helene.

"Tragically, lives have been changed forever in just a matter of minutes. Many families may not be able to afford to rebuild or repair and return," Porter said. "The recovery process will be extremely expensive and emotionally challenging in the months and years to come."

While thousands throughout LA and the state have mobilized to gather financial aid and donations, President Joe Biden announced Tuesday that wildfire victims will receive $770 one-time payments from the federal government.

According to Biden, $5.1 million has been delivered to almost 6,000 survivors who have registered for the Federal Emergency Management Agency's Critical Needs Assistance Program. Victims of the fires can apply for assistance through the FEMA mobile app, DisasterAssistance.gov or by calling 800-621-3362.

Los Angeles Mayor Karen Bass said she surveyed the wildfire damage from the air Monday, and she said it was devastating to see.

Bass said seeing the destruction drove home the enormity of the situation, and described the aftermath of the wind-driven infernos as a “dry hurricane.” Bass said she wants to begin thinking about how Los Angeles will rebuild from the massive destruction.

She added that she has taken steps to reduce the bureaucracy residents may face when they start to recover from the fires and has also signed an order to clear the path for debris removal.

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• Palisades Fire Acreage Holds As Crews Increase Containment To 17%
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