Quick facts: Los angeles, ca

Quick Facts

130.5
Cost of Living
above US average
3,822,238
Population
33.17
Crime Rate per 1000
above US average
$76,244
Median Income
below US average
$765,000
Median House Price
above US average
$3073.93
Average Rent
above US average
17%
Poverty Rate
above US average
6.0%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $76,244.

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Income Needed to Buy

βœ— Stretch
$240k/year
Based on $765,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $240k vs median $76,244
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Income Needed to Rent

⚠ Stretch
$132k/year
Based on $3073.93/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $132k vs median $76,244
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Los angeles, ca

Los Angeles, often referred to as LA, is the largest city in California and the second-largest city in the United States. Known for its Mediterranean climate, cultural diversity, and entertainment industry, LA is a global hub for film, television, and music. It is home to iconic landmarks such as Hollywood, the Walk of Fame, Griffith Observatory, and the Getty Center. The city boasts a rich cultural tapestry, with vibrant neighborhoods like Chinatown, Little Tokyo, and Olvera Street showcasing its diverse heritage. Economically, Los Angeles is a powerhouse, driven by industries like entertainment, technology, fashion, and tourism. The Port of Los Angeles is one of the busiest ports in the country, facilitating trade and commerce. Outdoor enthusiasts can enjoy nearby beaches, mountains, and parks, offering a variety of recreational activities. LA's public transportation system, including buses and the Metro Rail, connects different parts of the city, though traffic congestion is a well-known challenge. With a lively arts scene, numerous dining options, and a wide array of events, Los Angeles remains a dynamic and influential city on the global stage.

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