Los Angeles is famous for being expensive. Houses here often sell for over a million dollars, and many are smaller than those you could get for under two hundred thousand dollars elsewhere. If you’re moving from another city and looking for affordable options in California, here are some neighborhoods to consider if you don’t want to spend a million on a one-bedroom home.
**Neighborhood 1:**
– Average home value: $160,000
– Average household income: $50,000
This neighborhood is well-known in LA. It’s close to the city but not too far out, offering fresh air and plenty of walking and hiking trails without needing much travel.
**Neighborhood 2:**
– Average home value: $285,000
– Average household income: $54,000
La Puente is a small suburb in the downtown area, which is quite busy and noisy. Traffic can be a hassle, but public transit is a reliable and accessible option. Many residents rent instead of buying due to the income-to-home value ratio.
**Neighborhood 3:**
– Average home value: $208,000
– Average household income: $38,300
This area, just outside the city, is popular with younger people, mostly under 30, who are focused on their careers. Many households have four or more people, often due to space sharing and roommate arrangements.
**Neighborhood 4:**
– Average home value: $295,000
– Average household income: $72,235
Located twenty minutes from downtown and less than fifteen minutes from LAX, this suburb offers many amenities, including sports and movies. Rideshare services make city access easy, but the average resident spends 32% of their income on housing, making it less affordable for everyone.
**Neighborhood 5:**
– Average home value: $350,000
– Average household income: $166,000
This is the priciest neighborhood on the list, favored by professionals in technology and media. It offers perks like golf and the Palmdale Amphitheater. Although residents spend only 24% of their income on housing, it’s still expensive, so having a roommate or partner to share expenses is advisable.
Los Angeles is costly, but like most cities, it has more affordable areas. Take your time to explore, and you might find a home that fits your budget.
