Cost of Living and Accommodation
Cost of Living
As the global interest and appeal to live in LA has steadily risen for decades, so has its cost of living. With a median household income of $55,909 and a per capita individual income of $27,749, LA ranks twelfth in the US in median household income. However, housing is definitely not cheap. You should be prepared to fork out upwards of $2,000 for a comfortable one-bedroom (the average is $2,721). To stretch your budget, look in areas outside of the norm. Instead of moving to Beverly Hills, Santa Monica or Silverlake, take a look at places like Thai Town, Downtown or Mar Vista. Living near public transportation will also allow you to avoid the major cost of a car, but it’s not recommended if you’ll need to travel to remote corners of the city that don’t have access to public transportation.
In LA, plenty of apartment buildings and private homes have been sectioned into apartments. Real estate agents are useful but not essential for finding an apartment. Don’t be afraid to negotiate prices, as agents often have relationships with the buildings that they show and prices are not necessarily locked in. There are also coliving spaces such as PodShare, Starcity and Outsite, where residents can rent individual suites or shared suites with communal bathrooms, living rooms and kitchens for short-term leases. Reputable sites include westsiderentals.com and radpad.com. If you prefer a central location with good restaurants and entertainment nearby, look at Downtown and Midcity. For a seaside community, look at Venice, Marina Del Rey, Mar Vista and Santa Monica. For those into the arts, craft beer and artisanal coffee (the hipster scene), try Silverlake and Echo Park. Family-friendly areas include Playa Del Rey, Manhattan Beach and Pasadena. For that “boujee Hollywood” life, check out Beverly Hills and West Hollywood.