Economy

More Than 86,000 Homes at Risk From Southern California Wildfires

Paul Ausick

Published: December 8, 2017 9:50 am

Last Updated: January 12, 2020 5:38 am

Some 86,242 Southern California homes in Ventura and Los Angeles counties are at risk from the massive Thomas, Rye and Creek wildfires raging in the area. The combined reconstruction cost value of those homes is $27.7 billion.

The data were reported Friday morning by global property analytics firm CoreLogic. Reconstruction cost values (RCVs) represent estimates to rebuild the home, taking into account geography, labor and materials, and are based on 100%, or total, destruction.

Of the more than 86,000 at-risk homes, 16% (13,526) are listed at Extreme or High risk from the fires and 72,716 (84%) are listed at Moderate or Low risk.

As of Thursday night, the Thomas fire in Ventura county had destroyed 439 buildings, damaged 85 others and burned 115,000 acres. According to CoreLogic, 2,157 homes face High risk of damage from the Thomas fire and 601 face Extreme risk. The total RCV for the High risk homes is about $803 million. The total RCV for homes at Extreme risk levels is nearly $212 million.

The Rye fire near Santa Clarita had burned more than 7,000 acres as of Thursday evening, but no homes have been reported destroyed yet. CoreLogic estimates that 4,645 homes face High risk from the fire and 968 face Extreme risk. Total RCV for the homes at High risk is about $2.24 billion, and the RCV for homes at Extreme risk is about $396 million.

The Creek fire had burned more than 15,000 acres as of last night and destroyed at least 32 buildings and damaged more than 31 others. CoreLogic estimates that 4,635 homes with an RCV of about $$1.57 billion face high risk and 520 homes with an RCV of about $151 million face Extreme risk.