Home Affordability in Los Angeles, CA
The median home price in Los Angeles is $950,000 with a median household income of $69,778. Housing is significantly stretched relative to local incomes.
Median Home Price
$950,000
Median Income
$69,778
Price-to-Income Ratio
13.6x
Est. Affordable Home
$271,000
Property Tax Rate
0.72%
Annual Property Tax
$6,840
Sales Tax Rate
9.50%
Cost of Living Index
166
Buying a Home in Los Angeles
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $69,778 in Los Angeles can afford a monthly housing payment of approximately $1,628. This translates to a home price of roughly $271,000, which is below the median home price of $950,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Los Angeles would be approximately $6,840 per year ($570/month) at the effective rate of 0.72%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $28,500 | $921,500 | Yes |
| 5% | $47,500 | $902,500 | Yes |
| 10% | $95,000 | $855,000 | Yes |
| 20% | $190,000 | $760,000 | No |
Use Our Home Affordability Calculator
Get a personalized estimate based on your income, debts, down payment, and credit score.
Calculate Now