Housing costs in Los Angeles?
A typical home costs
$912,500, which is 169.9% more expensive than the national average of
$338,100 and 24.4% more expensive than the average California home, at
$733,500. Renting a two-bedroom unit in Los Angeles costs
$2,370 per month, which is 65.7% more than the national average of
$1,430 and 9.3% more than the state average of
$2,150.
Can I afford Los Angeles?
To live comfortably in Los Angeles, California, a minimum annual income of
$174,960 for a family, and
$74,800 for a single person is recommended.
What does A.I. say about Los Angeles?
Living in Los Angeles, California comes with a high cost of living. The median household income is $62,474 and the average cost of a house is $639,800. These costs are higher than both the national average and the state average. Rent is also on the rise with an average one-bedroom apartment renting for $2,133 per month. Gas prices and car insurance rates are significantly higher than in other parts of California and transportation costs tend to be higher due to traffic congestion. Groceries are affordable but entertainment such as going out to eat or seeing a movie can become expensive when factoring in taxes and tips. Overall, Los Angeles has a high cost of living that requires budgeting and financial planning to make ends meet.