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Whether you live in the middle of the woods or a big city, it’s going to cost you some amount of money to live there. The cost of living varies depending on where you live, and it includes factors such as housing, transportation, food, clothing, taxes, education, and others. If you’re thinking about moving to the City of Angels, you’ll definitely want to look into the cost of living in Los Angeles.
Suppose you’re considering moving to Los Angeles from a different city in California or even outside the state. In that case, it’s beneficial to consider how much different the cost of living is in LA compared to where you currently reside. You may even want to compare the cost of living in Los Angeles to the cost of living in California overall to decide where to live. California is generally more expensive overall, but if you have a larger income, then you can afford to live there.
Los Angeles is the second-largest city in the United States, and it attracts many people. Because of the demand, prices are higher for basic needs. Before packing up and moving to this great city, you should consider a good salary, housing situation, the best places to live for your needs or wants, expenses, and overall knowledge of the city.
The following should answer your questions about the cost of living in Los Angeles.
What Is a Good Salary in Los Angeles?
People have different opinions about what it means to live comfortably and what a reasonable salary might be to achieve that. For some in LA, that could mean just having a roof over their head. For others, it might be having multiple roofs to live under.
The average salary in LA is around $77,000 per year, which is a few thousand dollars more than California’s average salary. This will typically get you a one-bedroom apartment, a mid-range automobile or public transportation, and your necessities. As long as you budget well, you should be comfortable with this salary.
However, if you’re looking to live in a better neighborhood and make a salary that brings you the good life, you should expect to have a salary of over $200,000.
Should I Buy a House in Los Angeles?
The housing market is not the best right now, especially after COVID-19. Although the market is still recovering, you may be interested in purchasing a house if you’re moving to LA. Right now, there’s a tighter housing inventory, and home prices are higher than ever before.
If you want to purchase a home, the median price is about $680,000, and that’s just for a single-family home. If you can afford a home for that price, then by all means purchase a house in LA. It’s a great place to live if you can find a stable community.
The Best Places to Live in Los Angeles
There are many great places to live in LA. You can choose a location by the beach, in the major city, or a quieter neighborhood to raise your family, because LA has it all.
Here are some of the best places to live in Los Angeles County:
- Hollywood: Hollywood has big-city energy. Everything you could ever dream of is available there, and it’s very walker-friendly. Plus, if you want to rent, you can still find affordable apartments.
- Santa Monica: For beach lovers, Santa Monica is the place to go. It’s much more relaxed, and there are plenty of safe neighborhoods available that are great if you have kids.
- Arcadia: Another safer neighborhood is Arcadia. It’s a short drive from the city, so even if you find a job in the metro area, the commute won’t be too long. It’s also known for being a clean community.
- Mid-City: Mid-City is in a great location with great neighborhoods. Plus, if you like architecture, this city will catch your eye. There’s easy access to many amenities as well.
Other places in LA are just as good, but these are some of the best if you’re looking to move there.
Is It Expensive to Live in Los Angeles?
It can get expensive living in Los Angeles. However, if you budget well, you should be able to afford all of your needs. Here are some of the averages for the cost of living in Los Angeles:
- Housing: If you’re renting in LA, plan to spend about $2,200 per month. For those looking to buy a house, the average for a home can be between $600,000 and $800,000.
- Transportation: Living in the city, you’ll probably save money on transportation, especially if you walk, bike, or use public transit. Outside the city, you’ll likely need a vehicle, so the price varies depending on your make and model.
- Food: You also need food to survive. Groceries can average you about $500 per month per person.
- Utilities: When you have a house or apartment, you’ll need to pay for utilities, which average about $150 per month for a one-bedroom apartment.
- Health care: Finally, there’s health care. Everyone’s health needs are different, but compared to the national average, LA’s health care is usually 10% more.
Moving to LA will cost more than the national averages in each of these categories, so be aware of that before packing up and traveling to LA.
Is LA a Good Place to Live?
If you’ve been dreaming about moving to California, then LA is a great place to live! In Los Angeles, you’ll enjoy beautiful weather all year long. It has a consistent climate of 75°F and sunshine most days.
Plus, it’s a diverse city where many nationalities are represented. This also makes it great for educational purposes, as everyone has a chance to go to one of the great colleges, like UCLA. Also, you can safely raise your kids there, and the communities welcome families.
What You Should Know Before Moving to LA
Before you move to LA, research your cost of living, plan a budget, and get ready to live in one of the best cities in the United States!
There are plenty of sights to see and things to explore, and you’ll be able to enjoy all of it in a safe neighborhood. You have access to the city and the beach, as well as many opportunities.