), 1 min. Childcare is another major expense for families living in Los Angeles. People move to the Los Angeles area for many reasons: some hope to find work in the film industry; others come for the good economy, fun attractions, nearby beaches and gorgeous weather. The median household income for residents of Los Angeles is $62,474. The income tax rate for Los Angeles is 9.3%, compared to the nation’s average income tax rate of 4.6%. The job market is really strong in Los Angeles. Flat rates from LAX to places like downtown Los Angeles and Santa Monica may cost anywhere from $25 to $50, depending on the destination. © 2009-2020 Expatistan.com. One of the best things about Los Angeles is the diversity of food and cultures in the area. However, salaries also tend to be higher in the city, and there are a number of mortgage options to make purchasing a Los Angeles home more accessible. However, the amount for a rental home or apartment varies by area, with some parts of Los Angeles costing more than others. To find out more about moving to Los Angeles, talk to a real estate professional today. Quick Los Angeles Facts: Population: Over 4 million (2017 estimate). The average cost to rent a one-bedroom apartment in Los Angeles is $1,545, while a two-bedroom apartment is approximately $1,999, and the average cost to rent a three-bedroom apartment is $2,681. Getting Around LA: Transportation Costs. The median list price per square foot of space in Los Angeles is about $550, which is higher than the average cost in the metro area of about $450. An amount below 100 means Los Angeles County is cheaper than the US average. If you are moving to the area, it is important to understand Los Angeles's cost of living. Minneapolis - St. Paul, Minnesota (United States), Basic lunchtime menu (including a drink) in the business district, Combo meal in fast food restaurant (big mac meal or similar), 500 gr (1 lb.) The median home price in Los Angeles is $689,500. Utilities are not a major expense in Los Angeles. While the cost of living in Los Angeles is higher than the cost of living in other parts of the country, the cost of living inside Los Angeles's borders can vary from one neighborhood to the next. The median home price in the Los Angeles area is around $750,000, but it can be higher in expensive Los Angeles neighborhoods like Beverly Hills, where the median housing cost surpasses $10 million. Los Angelenos pay slightly less for internet than New Yorkers do. Meals range from Ethiopian food to Peruvian to Salvadorian, Irish, Russian and more. Our cost of living indices are based on a US average of 100. On average, Los Angeles shoppers can expect to pay $3.79 for a gallon of milk, $3.62 for a carton of eggs, $3.37 for a loaf of bread, and $2.53 for a bag of white rice. The median home price in the Los Angeles area is around $750,000, but it can be higher in expensive Los Angeles neighborhoods like Beverly Hills, where the median housing cost surpasses $10 million. They are based on 1,345 prices entered by 233 different people. The sales tax rate for Los Angeles is 9.5%, which is slightly higher than the U.S. average of 7.3%. Los Angeles has long been known for its immovable traffic. (5 miles), Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands), Short visit to private doctor (15 minutes), Standard men's haircut in expat area of the city, Basic dinner out for two in neighborhood pub, 2 tickets to the theater (best available seats), Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert, 1 beer in neighbourhood pub (500ml or 1pt. The Los Angeles metropolitan area is estimated to have a population of over 12 million. Public transportation in Los Angeles is available, and many people use it every day. And, while it’s never going to be exactly what you imagine (no matter how realistic your ideas are), there is one thing you can definitely count on – the weather. Moving to Los Angeles is an adventure. Cost of Living Comparison Between Los Angeles, CA and London You would need around 6,232.33$ (4,715.06£) in London to maintain the same standard of life that you can have with 6,300.00 $ in Los Angeles, CA (assuming you rent in both cities). of prepaid mobile tariff (no discounts or plans), 1 month of gym membership in business district, Monthly rent - 85 m2 furnished accommodation in expensive area in, Monthly rent - 900 sqft furnished accommodation in expensive area in, Basic lunchtime menu (including a drink) in the business district in. Visitors and residents should take advantage of the many places to eat in Los Angeles. People who enjoy hiking and going to the beach can expect to pay less on entertainment than people who often attend concerts or professional sports. Like many other places in the nation, the cost of food in Los Angeles varies. DAVID RAE, CFP®, AIF® is a Los Angeles Wealth Manager with DRM Wealth Management, a regular contributor to the Forbes.com Advocate Magazine, and Huffington Post Blogger. The highest-paying jobs in Los Angeles are: The fastest-growing industries in Los Angeles include: Los Angeles provides a variety of industries for people to discover, with overall earnings above the nation’s average. The median home price in the Los Angeles area is around $750,000, but it can be higher in expensive Los Angeles neighborhoods like Beverly Hills, where the median housing cost surpasses $10 million. Mobile version However, if looking to buy a home in a ...Read More, Los Angeles is known as the City of Angels and home to world-famous Hollywood entertainment. However, there are many homes in Los Angeles that are more affordable, so finding the right neighborhood is key. Additionally, Los Angeles is connected through taxis and rideshare vehicles. Residents and newcomers can compare Los Angeles food costs to national trends to get an idea of how their grocery bill will change. The average base cost for a nanny is approximately $22 per hour, which is approximately 40% above average. Some residents can avoid high transit costs by living in a highly walkable Los Angeles neighborhood. Full version Los Angeles offers a variety of healthcare, including free clinics and low-cost clinics. Day care in a preschool costs approximately $10,300, while day care in a home facility costs roughly $8,500. of boneless chicken breast, 0.5 l (16 oz) domestic beer in the supermarket, Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area, Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area, Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat, Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area, Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area, Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio, Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands), 1 summer dress in a high street store (zara, h&m or similar retailers), 1 pair of sport shoes (nike, adidas, or equivalent brands), Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new, Taxi trip on a business day, basic tariff, 8 km. A month’s worth of internet will cost you $59.65 in LA compared to $62.77 in the Big Apple, according to Numbeo.com. In general, in the past year, rental costs in Los Angeles have increased by approximately 1.4%. Taxis start at $2.85 and add $.30 per 1/9 mile after. Phone and internet services vary by plan, but typical rates are around $192 per month. Los Angeles cost of living is 173.3 Housing is the biggest factor in the cost of living difference. They are very reliable. For example, the cost to rent a studio apartment is approximately $1,295 in Los Angeles, while the cost to rent an apartment in the greater Anaheim Los Angeles area is approximately $1,355. Home to Hollywood and often referred to as LA, Los Angeles is known for its mild weather and glamorous but laid-back environment. In the City of Angels, you will enjoy mild weather and access to some of the best cultural experiences in the nation. As of Sept. 2020, based on figures from Numbeo.com, the average cost for a one-bedroom apartment in the city center sits at approximately $2,230 per month. People who need to get around without a vehicle have their choice of Los Angeles's trains, buses and commuter express lines.