Los Angeles, California
- cost of living 51.9 percentage points higher U.S. average
- The population of the city: 3,973,278
- The median income of a household: is $65,290
- Median home value: $670,700
- Rate of unemployment: 5.3%
There aren’t many cities that can match Los Angeles for excess and glamour, but most of its inhabitants aren’t employed at Hollywood and don’t shop along Rodeo Drive. Although high living costs make L.A. among the priciest U.S. cities, median annual incomes are just $296 higher than the average for the nation.
The appeal of America’s second-largest city is still unwavering. From Hollywood to Beverly Hills to Venice Beach, There are few cities that can boast the same number of famous locations. For those looking for more than that of Kardashians, L.A. boasts numerous museums and, famously, the world-class Los Angeles Philharmonic.
Be aware that L.A.’s notorious traffic is a significant factor in pushing prices for transportation to 26% higher than the average for the nation. Although the prices for groceries, utilities, healthcare and other miscellaneous items and services are just 10 per cent to 15% more than average in the U.S. average, housing can drain residents.
Indeed, housing-related costs like mortgages and rents are 134% higher than the average for national households within Los Angeles.