Los Angeles

Los Angeles, often referred to as L.A., is the second-largest city in the U.S., right behind New York. It is widely known as the entertainment capital of the world, which is why more and more young people are moving here every year. Also, the city boasts a very vibrant nightlife with a vast number of job opportunities available, which is why even young families are thinking about moving here. With a population of more than 300000 residents, Los Angeles is becoming a very popular relocation option even though the cost of living here is infamously high. However, to help you get a clear picture of the prices here, we provide you with the cost of living in L.A. below in the following text.

The Cost of Living in Los Angeles

Accommodation

The general cost of living here is around 8 percent higher than the California average and almost 50 percent higher than the national average, meaning that you can get a very clear picture of the prices here. Housing and accommodation are among the most important expenses for all American households. Home prices circle around $875000, while the average monthly rent is around $2700 for a mid-sized apartment.  Most apartments in L.A. are rented for $2500, which is 50 percent higher than the national average.

Food

Now, you might think that L.A. is an expensive city, which is entirely true, especially when compared to the rest of the world, not only the States. However, not many people know that L.A. is considered a mecca for very tasty and inexpensive food. If you opt for well-known tacos, you won’t have to spend more than $2, while a meal in any part of the city in some of the fancier restaurants will require you to spend around $40, which is 30 percent lower than the cost of the same meal in New York. Also, groceries are usually not taxed, meaning that cooking at home won’t cost you any more than in other mid-ranged parts of the state. So, in terms of food affordability, Los Angeles is an ideal place.

Utilities

Even though living in L.A. is very expensive, there are some upsides to the city, especially when it comes to utilities. Thanks to the Mediterranean climate, most apartments don’t own air-conditioning or central heat (depending on the exact location), meaning that the weather will adjust to your needs. Now, we’re not saying that everything is ideal, but in terms of utilities, expect to pay $30 less for utilities than in other parts of the country. The average cost of utilities here goes around $130 a month per person, which, of course, includes electricity, garbage, water, and gas. Did you know that in Los Angeles, homeowners even have the option to install solar panels and can get some of the money back for generating extra energy?

Transportation

However, Los Angeles is not so great when it comes to public transport, at least not in all areas. Even though transit lines are easily accessible if you are close to the transit lines, most parts of the city will require you to get a car. More than 96 percent of Los Angeles residents use a car, while only 4 percent use public transport. In addition, gas prices are not very appealing, which is becoming even worse in the recent period, while the car insurance here will cost you $2000 on average. Monthly public transport passes are cheaper than in New York, going for about $100.