Yahoo Finance 5 Most Affordable Los Angeles Neighborhoods
It is no secret that Los Angeles is an expensive city to live in.
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“Housing costs [are said to be] 101% more expensive than the national average [in Los Angeles],” said The Los Angeles Times.
Even with exorbitant housing costs, the City of Angels still remains as a popular destination for millionaires, young single people and families alike.
“Los Angeles County has the largest population of any county in the nation, exceeded by only eight states,” according to the County of Los Angeles.
GOBankingRates has listed the cheapest, safest LA neighborhoods, places where your salary will go the farthest in one of the most expensive cities in the country.
Encino
Home Price: $753,844 median purchase price
Monthly Rent: $1,475 median monthly rent
Located in the San Fernando Valley, Encino is a Los Angeles suburb that maintains a suburban feel. Encino has one of the lowest monthly rents on this list and is a neighborhood meant for retirees and young professionals alike.
With community-oriented farmers’ markets and hiking and biking trails, this city provides a safe living space just outside of the heart of the city.
Los Feliz
Home Price: $740,684 median purchase price
Monthly Rent: $1,407 median monthly rent
Los Feliz provides an urban-suburban lifestyle while still being considered in Los Angeles. Los Feliz borders Griffith Park, home of the iconic Griffith Observatory. Additionally, it is known for its trendy shops and restaurants.
Los Feliz is a great neighborhood for those who want to live that Hollywood lifestyle; out of all the neighborhoods on this list, it’s truly located near the heart of the city.
Mar Vista
Home Price: $797,290 median purchase price
Monthly Rent: $1,576 median monthly rent
Mar Vista lies on the west side of Los Angeles, near the Santa Monica Airport. Mar Vista’s median rent near LA’s beaches is still below average for Los Angeles.
Mar Vista offers the pleasures of an urban lifestyle but is also close enough to the beach for outdoor activities typical to Southern California, such as surfing or paddleboarding.
Playa Vista
Home Price: $655,300 median purchase price
Monthly Rent: $1,535 median monthly rent
Playa Vista is a neighborhood located just off of the 405 Freeway, one of Los Angeles’s busiest freeways. This neighborhood is especially known to be family-friendly due to its reputable private schools.
Additionally, houses are relatively affordable in Playa Vista. Playa Vista is close to LAX, Los Angeles County’s largest airport, which makes preparing for a flight convenient.
Porter Ranch
Home Price: $681,550 median purchase price
Monthly Rent: $2,763 median monthly rent
Not only is Porter Ranch the priciest neighborhood on this list regarding monthly rent, but it is also the farthest from the heart of Los Angeles.
In northern San Fernando Valley, Porter Ranch is about an hour from Downtown LA and boasts hiking trails and regional parks. Because it is farther removed from the city, houses in Porter Ranch usually have large yards and are on spacious lots.
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This article originally appeared on GOBankingRates.com: 5 Most Affordable Los Angeles Neighborhoods
