Housing costs in Los Angeles?
A typical home costs
$516,600, which is 52.8% more expensive than the national average of
$338,100 and 29.6% less expensive than the average California home, at
$733,500. Renting a two-bedroom unit in Los Angeles costs
$1,910 per month, which is 11.2% cheaper than the national average of
$2,150 and 20.4% cheaper than the state average of
$2,300.
Can I afford Los Angeles?
To live comfortably in Los Angeles (zip 90002), California, a minimum annual income of
$99,000 for a family, and
$60,000 for a single person is recommended.
What does A.I. say about Los Angeles?
The cost of living in 90002 Los Angeles, CA is higher than the national average. The median home price is $295,000 and the median household income is $37,785. This creates a high cost of living for residents in this area, with many essential expenses such as housing, transportation, food, healthcare and taxes taking a larger percentage of income than elsewhere in the country. In addition to that, entertainment and leisure activities can be expensive due to the city's popularity as a tourist destination. While there are some cheaper areas within Los Angeles and its surrounding suburbs to consider when looking for affordable housing options, it's important to budget carefully when deciding whether or not to live in this area.