Top 10 Most Affordable Places To Live In Los Angeles, CA | ZeroDown (2023)

FAQs

Top 10 Most Affordable Places To Live In Los Angeles, CA | ZeroDown? ›

Living in L.A. on a budget is possible!

But choosing your neighborhood wisely, being frugal with your entertainment choices, and living with roommates can all help you keep your bank account in check while you live in Los Angeles.

Living in L.A. on a budget is possible!

But choosing your neighborhood wisely, being frugal with your entertainment choices, and living with roommates can all help you keep your bank account in check while you live in Los Angeles.

If you're searching for one of the cheapest places to live in California, look no further than Clovis! Part of the Fresno metro, this Central California city is comfortably-sized, full of young families, and within three hours of both San Jose and Yosemite National Park.

According to the study, a Los Angeles resident without children would need to make $76,710 after taxes to live comfortably. The study is based on the MIT Living Wage Calculator, which uses the cost of housing, food, transportation, medical care and more.

When is the best time to move to LA? According to RentHop, the best time to move to LA is September through December. On average, you'll see a 4% decrease from peak rental prices. This difference amounts to savings of $85 per month for a one-bedroom apartment, and $103 per month for a two-bedroom.

In Los Angeles County, 14.2% of residents live below the federal poverty line, which in California is defined as having an annual income of $13,590 for a one-person household, $18,310 for two people and $27,750 for a family of four.

If you make more than $46,636 per year, you can afford the cost of living in California. The US Economic Bureau of Analysis estimates that this is about how much the average household in California spends in a year.

What is the most unaffordable city in California? ›

Union City, California

The tradeoff is that it has the lowest rent out of all 10 cities. With a $122,054.66 annual cost of living, you'll need $10,171.22 per month to make a life there.

San Francisco: Known for its high cost of living, San Francisco is the most expensive rental city in California. The average rent for a one-bedroom apartment was around $3,340 per month.

LAHD offers the ability to search and apply online for accessible housing. In addition, in partnership with the County of Los Angeles, is offered an online affordable housing listing service. These free services provide lists and information about affordable and accessible residential rental properties.

Contact a regional office or visit the website for HUD in California (800-955-5342) for help finding rentals, avoiding foreclosure, filing fair housing discrimination complaints, getting reverse mortgages, or buying homes. HUD in California also assists those who are homeless or at risk of becoming homeless.

The data used in the study analyzed the cost of living in each city as of 2022. For California cities like Los Angeles, Berkeley and San Diego, a single person must make more than $76,000 to “live comfortably,” the data shows.

In Fremont, the median household income is $155,968, and a middle-class income ranges from $104,499 to $311,936. Los Angeles ranks 37th among large cities for middle-class income, with a range from $47,149 to $140,744. The median income was $70,372.

An annual salary of $80,000 can be considered a decent salary for a single person living in Los Angeles, but it will depend on individual circumstances and lifestyle. Los Angeles is known for having a high cost of living, with housing costs being a major factor in this higher cost of living.

The most popular and safe places for tourists include West Hollywood, Silverlake, and Santa Monica. These three cities are favorite spots for anyone looking to check out the Los Angeles scene and some of the best areas to look for a place to stay.

What side of LA is expensive? ›

1. Bel-Air. The richest neighborhood in Los Angeles is Bel-Air. Making its claim to fame on the popular series The Fresh Prince of Bel Air, this neighborhood is located directly across from Sunset Boulevard and is considered one of the most exclusive residential areas in Los Angeles.

Move to LA During Your Favorite Season

For great weather, a little rain, and the fewest crowds (except around Spring Break), choose the spring months of March and April. For the warmest ocean water (68 degrees Fahrenheit on average), plan to move to LA during late summer — August and early September.

In Los Angeles, you'll need to earn $135,373 or more to be considered a “rich” person in the top 20% of the city's nearly 4 million residents. The ultra-rich, or the top 5% of earners in LA, make way more: $516,961 on average, according to the analysis.

Overall, SmartAsset found the income threshold ranges from roughly $375,000 to slightly more than $955,000.

“Affordable housing cost” for lower-income households is defined in State law as not more than 30 percent of gross household income with variations (Health and Safety Code Section 50052.5). The comparable federal limit, more widely used, is 30 percent of gross income, with variations.

To keep a house payment below 30% of your income after putting 20% down, a person would need to earn roughly $16,693 per month or $200,316 per year – just to buy a median-priced home in California.

The minimum wage in California is currently $15.50/hour for all employers. Some cities and counties have higher minimum wages than the state's rate. There is a list of City and County minimum wages in California maintained by UC Berkeley.

How much money do you need to live in California per month? ›

Average Cost of Living in California: $53,082 per year

What is the cost of living in California? According to 2021 data from the Bureau of Economic Analysis , the annual average cost of living in California is $53,082. Based on that number, it would cost $4,423 per month to live in California.

California is so expensive because of its strong economy, high-income tax rates, and limited housing supply which make it difficult for residents to save money. Moreover, the prices of basic necessities such as food, gasoline, and transportation are comparatively steep in California as compared to most other US states.

Is San Diego an expensive place to live? San Diego could be considered an expensive place to live for anyone moving to California from outside of the state. The cost of living in San Diego is 7% higher than the California average and 51% higher than the national average.

The Allied report referenced above says the top five destination cities for Los Angeles area residents moving out of state are: Dallas, TX. Austin-San Marcos, TX. Chicago, IL.

Which City Is More Affordable: Los Angeles or New York City? Both NYC and LA are among the most expensive cities in both the U.S. and the world. However, the average cost of living in LA is also 24-27% lower than that of NYC.

1. Emmerson Family of Sierra Pacific Industries — 2.4 Million Acres.

What cities in California have the highest salaries? Major cities like San Francisco, San Jose, Los Angeles and the state capital of Sacramento offer most of the highest salaries in California.

Who can afford a house in Los Angeles? ›

According to the Redfin study, the income needed to buy a median-priced home in L.A. has soared by 40.7% in one year. In 2021, anyone looking to buy a home in the city of Angels needed to make $157,000 a year. However, now, that same person would need to make $64,000 more, or $221,000, to buy a median-priced home.

Home Ownership Program (HOP) – This program helps provide financing to low-income families looking to purchase an existing home in Los Angeles County. Handyworker Program – The Handyworker Grant Program funds minor home repairs to ensure the health and safety of eligible low- and moderate-income homeowners.

For a simplified look at Los Angeles rent control, look here. Los Angeles, Santa Monica, Beverly Hills, and West Hollywood have rent control, but Glendale, Burbank, Torrance, Pasadena, Downey, and other cities nearby have nothing like it.

This is due to the city's proximity to large agricultural areas and its relatively inexpensive housing. The city's median home price is $362,600, which is way lesser than California's median home price of $600,000.

Topping the 2023-24 list: Green Bay, Wisconsin. The magazine called Green Bay "The perfect mix of big-city amenities complemented with a Midwestern, small-town feel."

As evidenced by the map, high levels of poverty are pervasive in South Los Angeles and are also found in portions of the San Fernando Valley, Hollywood, Boyle Heights, Northeast Los Angeles, and areas surrounding the Port of Los Angeles.

Cost of Living in California vs. Texas. In Texas, you can get a lot more bang for your buck. A MyMove study evaluating the cost of living in the United States in 2022 shows that California has a cost index of 151.7, while Texas has a cost index of only 91.5.

Is LA more affordable than NYC? ›

Is LA more expensive than NYC? Overall, LA is about 24% less expensive than NYC. The cost of living in LA is lower than in NYC thanks to far lower housing prices. On average, housing in LA is 34% cheaper than in New York City.

An annual salary of $80,000 can be considered a decent salary for a single person living in Los Angeles, but it will depend on individual circumstances and lifestyle. Los Angeles is known for having a high cost of living, with housing costs being a major factor in this higher cost of living.

Skid Row is a neighborhood in Downtown Los Angeles. The area is officially known as Central City East. Skid Row contains one of the largest stable populations (about 9,200–15,000) of homeless people in the United States and has been known for its condensed homeless population since at least the 1930s.

The most popular and safe places for tourists include West Hollywood, Silverlake, and Santa Monica. These three cities are favorite spots for anyone looking to check out the Los Angeles scene and some of the best areas to look for a place to stay.

Miami is more affordable than Los Angeles. However, for those interested in the entertainment industry, diverse food options, and mild climate, Los Angeles is the better choice.

The cost of living in Los Angeles, CA is 25.1% higher than in Miami, FL. You would have to earn a salary of $75,057 to maintain your current standard of living. Employers in Los Angeles, CA typically pay 15.7% more than employeers in Miami, FL.

The cost of living in Los Angeles is 2% less expensive than in Miami. Cities ranked 39th and 33rd ($2975 vs $3048) in the list of the most expensive cities in the world and ranked 31st and 26th in the United States.

Is California's income tax higher than New York's? Yes, California's income tax is higher than New York's. California's top marginal income tax rate of 12.3% is the country's highest state income tax rate, while New York's taxes top out at 10.9%.

LA's public transit network is just about adequate for getting around. If you do not have a car, LA is still a fun, accessible city as there are various options to travel locally. Here are a few local modes of transportation if you want to visit Los Angeles without a car.

Is it better to move to LA or NYC? ›

LA has a stable and more comfortable climate, an affordable transport system, and a lower cost of living. Meanwhile, there are better job opportunities and a higher safety index in NYC, although with a higher cost of living. With these factors in mind, we can say that LA is better than New York City.

In Southern California (which the survey grouped Los Angeles and San Diego), the threshold for what is considered wealthy is $3.9 million. It's the second-highest total in the survey, trailing San Francisco, where the "wealthy" net worth is $5.1 million.

How much should I save to move to LA? Generally speaking, you should save about $20,000 to move to LA. There's a lot of variance in this number, so we'll break this down into cost subcategories so you can more accurately calculate how much you want to save: Moving costs.

$14.59 is the 25th percentile. Wages below this are outliers. $29.42 is the 75th percentile.