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These days, finding an affordable place to live in the Los Angeles area can be challenging. Home prices in Los Angeles are now at a median cost of $909,324, higher than the California average of $812,006.
The average cost of rent is $2,279/mo in Los Angeles, primarily driven by the current value of real estate in the Los Angeles area. In Los Angeles, 51.58% of households rent, and 34.12% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Los Angeles is $8,947 per month. Households that rent pay about 25.47% of their income on rent here. Los Angeles’s most expensive areas are in the western regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- View Park-Windsor Hills, CA: higher priced homes
- West Hollywood, CA: higher priced homes
- Ladera Heights, CA: higher priced homes
- Florence-Graham, CA: less expensive homes
- Beverly Hills, CA: higher priced homes
- Culver City, CA: higher priced homes
- Inglewood, CA: less expensive homes
- Huntington Park, CA: less expensive homes
- Westmont, CA: less expensive homes
- Vernon, CA: equally priced homes
Cities with Similar Populations
- Sugar Land, TX: less expensive homes
- St. Peters, MO: less expensive homes
- Spring Hill, FL: less expensive homes
- Sumter, SC: less expensive homes
- St. Petersburg, FL: less expensive homes
- Statesville, NC: less expensive homes
- St. Paul, MN: less expensive homes
- St. Joseph, MO: less expensive homes
- Sterling Heights, MI: less expensive homes
- St. George, UT: less expensive homes
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