Of all the most desirable places to live in California, Los Angeles is definitely at the top of the list. This city makes newcomers picture glitz and glamour, full of celebrities and tons of opportunities. But, of course, the cost of living matches with the upscale lifestyle. So, you’re probably wondering, “What is the cost of living in Los Angeles, California?” We’re here to break it down. 

Cost of Living in Los Angeles California

Cost of Living in Los Angeles

For providing a public figure of the cost of living in Los Angeles, we can turn to BestPlaces. They use a cost-of-living index wherein a score of 100 in the United States average. The cost of living in Los Angeles gets a score of 173.3, which is significantly more than the national average. That’s probably not a huge surprise to any of us! Still, individual categories fall closer to the national average than one might expect. Groceries, for instance, get a score of 104.1, and health and utilities are slightly cheaper than average in the US.

Cost of Homes in Los Angeles

One of the most significant living expenses in any city is housing, and Los Angeles is no exception. According to Zillow, the average home value in Los Angeles comes in at a whopping $913,754. That’s quite a bit above the average for California, which comes in at $717,854. On top of that, the price of houses in Los Angeles is nearly three times the national average, which is $308,220, according to Zillow. It’s never been a secret that living in Los Angeles can be pretty expensive, but often, newcomers aren’t aware of just how expensive homes can be here. 

Average Salary in Los Angeles

Of course, a high cost of living can be offset by a high salary. It’s essential to keep in mind that an individual’s exact salary will vary depending on the field they work in, the amount of experience they have, the demand for their specific position, and so on. Still, according to ZipRecruiter, the average salary of someone living in Los Angeles hits $68,118 per year. The pay scale in the city can vary greatly, anywhere from $21,000 to $143,000 per year. 

If you’re considering moving out West, we hope we’ve helped to answer your question, “What is the cost of living in Los Angeles, California?” On the other hand, if you’re selling a home in the city, we hope we’ve given some valuable information you can pass on to your potential buyers. The housing market in Los Angeles can be competitive, and you might find that you don’t want to deal with a turbulent market, expensive realtor commissions, or costly home repairs. You don’t have to! We buy houses in Los Angeles no matter the condition, getting you your money in just a couple of weeks. Call For Offer or contact us today for more information!