What is the Average Cost of Living in Los Angeles per Month?
In a general sense, cost of living differs between a person living in rental accommodation and a person owning a home. The person living in rental accommodation does not incur charges towards property insurances, or pay any property or related taxes. In general, cost of living is considered from the perspective of a person who is taking any accommodation on rent. Factors considered include rental charges for a median sized apartment, taxes, and cost of food, clothing, medical insurances, and transport. Some may even consider cost of other activities, which improve quality of life, and medical costs not covered under Medicare and medical insurances. As of October 2010, average rental charges for a small apartment in Los Angeles, comprised of a room that has attached utilities, are approximately $800 with an upward bias. This amount is almost 33 percent more than what the national average is for an apartment of that size. There are some areas within LA, like Glendale, where it would be possible to take a median sized apartment on rent for $700 or so. Malibu, and Santa Monica qualify as upscale communities. Therefore, rents are more in these regions. LA does have transport problems, primarily due to distances between different areas. So owning a vehicle is a must here. This means an additional cost of $300 with an upward bias. Around $400 would suffice for one person’s food. Other essential expenses would be medical insurances, and clothing expenses, which differ based on the cover desired and preferences. Effectively, as of date, the average cost of living in LA per month would be between $2000 and $2500.
+by Margaret Walker on Sun, 10/10/2010 - 23:55
Cost and Price Reference Series
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