Los Angeles is one of the most popular cities in the United States, but it is also one of the most costly. The cost of living in Los Angeles can be overwhelming, with hefty housing bills, transit fees, and entertainment charges. But, there are still some reasonably priced neighborhoods in the city where you may reside without breaking the bank.
Central Alameda, located 4 miles southeast of downtown LA, is the most affordable neighborhood in Los Angeles with an average home price of $500k. It offers quick access to urban amenities and is bordered by major freeways, making it an ideal location for Los Angeles commuters. Notable landmarks in the area include the Natural History Museum of Los Angeles County, the California Science Center, Exposition Park, and the iconic Union Station, a major hub of the city's transportation.
South Park, about 5 miles south of the city center, is the second-cheapest place to live in Los Angeles with home values averaging at $640k. Historically an industrial area, South Park has undergone serious redevelopment and is now known as one of the fastest-growing areas in the city. It offers a diverse assortment of residential, commercial, and cultural areas, including high-rise apartment buildings, restaurants, bars, shops, and entertainment venues.
Pico-Union, located about 3 miles from downtown, is another affordable place to live in Los Angeles with home values averaging at $651k. This neighborhood boasts a diverse resident base, vibrant local culture, and stunning historic architecture, including Victorian-era homes and mid-century apartments. Its name was taken from the intersection of Pico Boulevard and Union Avenue, which are considered the beating heart of the community.
Pico Rivera, a small city in Los Angeles County about 12 miles from the city center, is the cheapest suburban location to live in Los Angeles. With low home prices and below-average crime rates, Pico Rivera is a family-friendly option for home buyers who prefer a more suburban lifestyle. It offers a rich history, a bustling economy, and an active local community, as well as a thriving cultural district that involves several festivals and events.