Living in L.A. Costs You 30 Percent More
This one's not really going to shock you.
Yet another report has found that you pay a premium to live in Los Angeles. In this case, 30.4 percent more than the average American pays to live elsewhere, according to a recent report by personal finance publication Kiplinger.
It compiled a top 10 list of "Most Expensive U.S. Cities to Live In" - and you know we made the cut:
Los Angeles came in at number 9. Kiplinger says that we have high prices and low incomes. About 1 in every 5 of us lives in poverty, too. According to the publication's take on L.A:
... The City of Angels is cursed with a combination of high costs and low incomes. Proving the television show right, the 90210 zip code boasts a high median household income of $130,071, but it only accounts for 8,486 households. On the other hand, the city as a whole has a typical household income that's 6.6% below the national level, and the percentage of the population living in poverty is 21.2%, compared with 14.9% for the U.S. Another negative: The unemployment rate remains markedly high at 8.0% (as of March 2014, compared with 6.8% for the U.S.).
We beat out another SoCal city, San Diego, which came in at number 10. New York, Honolulu and San Francisco did 1 through 3, respectively. You can see the whole list here.
Five California cities made the cut, more than for any other state.
Kiplinger says it analyzed " ... cost of Living Index measures prices for housing, groceries, utilities, transportation, health care, and miscellaneous goods and services" in 308 American cities.
Of course, all you have to do is go outside your door to know how expensive it is to be an Angeleno.
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