The high cost of housing in Los Angeles has become a major problem for many people. High rents and home prices contribute to other problems such as overcrowding, long work commutes, and homelessness — all of which diminish our quality of life.
High rents burden working families. With rents well over $1,000/mo. for an average two-bedroom apartment, over 40 percent of households in Los Angeles have no choice but to pay more than a third of their total income on housing. Many families who struggle with rent are forced to double up with other family members or friends in overcrowded conditions, move far away from jobs, or even become homeless.
» Learn more about the cost of apartments in Los Angeles
Home ownership is largely out of reach. Less than one in five Angelenos can afford to buy a median priced home in Los Angeles — which has risen above $400,000 in the past year. A family needs to earn above $90,000/yr, or over 160 percent of the area median income, just to afford an average priced home.
» Find out what it takes to afford a home in Los Angeles today
What are the reasons behind the high housing costs in L.A.? »
