Los Angeles, CA is a vibrant city with plenty of employment opportunities. Many well-known companies have their headquarters in Los Angeles such as Walt Disney Company, Warner Bros., Universal Pictures and 20th Century Fox. The cost of living in Los Angeles can be high however; the average 2 bedroom rent is $2,370 compared to the US average of $1,430. Additionally, grocery costs are higher in Los Angeles than they are on average nationwide; with an index score of 104 versus 100 in the US. Despite this, the city is known for its wonderfully diverse culture and its wealth of attractions and activities.
Los Angeles has an unemployment rate of 10.6%. The US average is 6.0%.
Los Angeles has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 34.6%, which is higher than the US average of 33.5%.
Tax Rates for Los Angeles
- The Sales Tax Rate for Los Angeles is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Los Angeles is 9.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Los Angeles
- The average income of a Los Angeles resident is $28,320 a year. The US average is $28,555 a year.
- The Median household income of a Los Angeles resident is $69,778 a year. The US average is $69,021 a year.