In the heart of Los Angeles, the once well-lit streets of Los Feliz are now cloaked in an unsettling darkness. A surge in copper-wire theft has plunged entire neighborhoods into pitch-black darkness.
“It scares me,” resident Barbara Wright told KTLA 5. “I’m afraid to go out. All of the lights are out and it’s pitch dark at night.”
Her neighbor was robbed. Resident Sarah Yun added that there have been a number of car break-ins.
“We’re more fearful of what might happen at night,” Yun said.
Copper, crime and your streetlights
As the New York Times reports, copper is in high demand as a component in telecommunications. electric cars, grids and data centers. Its value has soared since 2020, frequently hitting $5 per pound, according to Trading Economics.
For thieves, that makes even small amounts worth stealing, and streetlights are a target nationwide.
Last year in Los Angeles, criminals stole copper from more than 3,700 streetlights, leading to an estimated $17 million in repair costs, according to LAist.
When copper is stripped from a single streetlight it can impact others in the circuit. On average, repairing and reinforcing just one circuit — with 18 connected lights — can cost $36,000.
Must Read
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — are you doing the same?
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how
- Robert Kiyosaki says this 1 asset will surge 400% in a year and begs investors not to miss this ‘explosion’
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
Copper theft impacts insurance rates and property values
It’s not just taxpayers that have to pay for copper theft; it’s property owners.
Copper was at the heart of 95% of metal theft insurance claims from 2017 and 2018, according to the most recent analysis by the National Insurance Crime Bureau.
When it comes to streetlights, premiums may rise as lighting outages lead to more insurance claims for car theft and break-ins. Insurers may also limit coverage or drop high-risk areas altogether.
The ripple effects extend to real estate. Safety is a top concern for today’s buyers, and many avoid neighborhoods with persistent lighting and safety issues.
For existing homeowners in neighborhoods targeted by copper thieves, that can mean lower property values, challenges refinancing mortgages and long-term financial uncertainty.
The residents of Los Feliz are asking their Councilmember Nithya Raman to take action now. Her office said she is working on making repairs “swiftly.”
Meanwhile residents have installed motion detectors and other security measures to protect their property and their neighbors.
Until real action is taken, the cost of darkness may prove far greater than the price of copper.
You May Also Like
- Turning 50 with $0 saved for retirement? Most people don’t realize they’re actually just entering their prime earning decade. Here are 6 ways to catch up fast
- Inside a $1B real estate fund offering access to thousands of income-producing rental properties — with flexible minimums starting at $10
- Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
- Here are 5 easy ways to own multiple properties like Bezos and Beyoncé. You can start with $10 (and no, you don’t have to manage a single thing)
Monique Danao is a highly experienced journalist, editor and copywriter with 8 years of expertise in finance and technology. Her work has been featured in leading publications such as Forbes, Decential, 99Designs, Fast Capital 360, Social Media Today and the South China Morning Post.
