Are you wondering if affordable housing in Los Angeles even exists? Well, believe it or not, it actually does! There's no doubt that there are many neighborhoods in Los Angeles with high home prices, however, that doesn't mean that the entire city is full of overpriced homes. There are still several neighborhoods in Los Angeles where the housing prices are generally affordable and cost of living is lower than in other areas of Los Angeles.
To help you find the most affordable housing areas in Los Angeles, AreaVibes calculated the median housing prices of five of the most affordable Los Angeles neighborhoods. There are plenty of other factors to consider besides affordable housing when you decide to move, so take a look at the following five neighborhoods to see if the overall profile is appealing to your lifestyle and needs.
- 1. Watts
Median Home Price: $238,439
With a median home price of $238,439, Watts has housing prices come in at about 49 percent lower than Los Angeles as a whole. It is known for having a stable housing market, lots of local amenities and pleasant sunny weather with an average summer temperature of 70 degrees Fahrenheit. Besides the attractive housing prices, the variety of local amenities may be the biggest draw to Watts. It boasts lots of great public schools, many nearby public transit options, wonderful grocery stores and loads of food and drink establishments. It is also served by seven parks and a branch of the Los Angeles Public Library. Watts has convenient freeway access being right off the 105 and the 110. It's also not far from downtown Los Angeles, so all the entertainment options of the big city are close by, including Dodger Stadium, the Staples Center and the University of Southern California. Watts has a Livability Score of 67, which is in the medium range of livable.
- 2. Southeast Los Angeles
Median Home Price: $272,502
The median home value of Southeast Los Angeles is 42 percent lower than Los Angeles and the overall cost of living index is 17 percent lower. Southeast Los Angeles gets high marks for plenty of local amenities, nice weather and good housing prices. Access to the 110 is a feature of Southeast Los Angeles, and there are a wide variety of schools, public transit stops, groceries, shopping and restaurants in the area. There are also five parks and three libraries or bookstores nearby. Southeast Los Angeles is a short distance from downtown Los Angeles and everything it has to offer. See the NBA's Clippers or Lakers at the Staples Center, or take in a baseball game at Dodger Stadium. Other popular Los Angeles attractions nearby include Chinatown, the Arts District, Walt Disney Concert Hall and much more. Southeast Los Angeles has a Livability Score of 67.
- 3. Pacoima
Median Home Price: $282,948
Pacoima boasts a median housing value that is 40 percent lower than Los Angeles, and a cost of living 15 percent lower. Housing, local amenities and weather all get high marks. The average summer temperature in Pacoima is a warm 84 degrees, great for playing outdoors. Pacoima has easy access to the Foothill Freeway, as well as I-5 and the 118. Some nearby amenities to Pacoima include the Hansen Dam Golf Course and Recreation Center, as well as a variety of grocers, restaurants, schools, public transit and shopping centers. The neighborhood is also very close to several areas perfect for outdoor enthusiasts, including the Kagel and Elsmere Canyon areas among many others. Not far south is Universal City, including Universal Studios Hollywood, Warner Bros Studios and the Hollywood Sign. Pacoima has a Livability Score of 70, which is very livable.
- 4. Arleta
Median Home Price: $289,782
Arleta has a median housing value at 38 percent lower than Los Angeles, and a cost of living at 13 percent lower. It gets high marks for local amenities, weather, housing market and an income eight percent higher than Los Angeles. Arleta has an average summer temperature of 84 degrees, perfect for roaming around outside. Arleta appeals to residents who love the outdoors for its close proximity to a number of nature areas, including Kagel Canyon, Deukmejian Wilderness Park, Wildwood Canyon Park and many others. The neighborhood has plenty of options for public transit, schools, groceries, restaurants and shopping. It is served by the Pacoima Branch Library. The I-5 and 405 are immediately accessible in Arleta and take you south into the Burbank area, or north into Santa Clarita. Nearby to Burbank is Universal City with all its popular attractions, as well as Walt Disney Studios and the expansive Griffith Park. Just a bit more south will take you into Glendale and downtown Los Angeles. Arleta has a Livability Score of 71.
- 5. South Los Angeles
Median Home Price: $320,032
South Los Angeles offers a median home value at 32 percent lower than Los Angeles and a cost of living that is 13 percent lower. It is notable for its good weather, stable housing market and plenty of local amenities. The average summer temperature is a very pleasant 71 degrees, and you'll find plenty of services and attractions in and around South Los Angeles. Immediate access to the 110 will take you north and south. Residents enjoy plenty of options for shopping, schools, public transit, grocery and restaurants. South Los Angeles is served by the John Muir Library and the Southern California Library. Not far north of the neighborhood is downtown Los Angeles with opportunities for watching live sports and catching shows. The University of Southern California is also close for educational opportunities. South Los Angeles a Livability Score of 70.
See even more information about the best Los Angeles, CA neighborhoods as well as a neighborhood map.