Rents Rising in Hurricane's Wake Lake CharlesHurricane Laura wiped out a massive chunk of housing in southwest Louisiana. According to the governor's office, 10,000 homes were demolished and another 130,000 damaged by Laura's punishing 150-mile-an-hour winds. With thousands of families seeking new shelter and a depleted stock of intact units, rents rose quickly. In the Lake Charles area, rents on spared properties jumped 10-20 percent in the wake of the disaster. Market for Apartments Rent (per month $1,400 $1,300 Post-hurricane supply $1.200 $1,100 $1.000 Pre-hurricane supply $900 $800 $700 Market demand $600 60 70 80 90 100 110 120 130 Quantity (thousands of units per month) how large is the pre-hurricane shortage