If you’re looking for a great place to get the most bang for your buck, check out Pomona. As you can see from the data, the median price of a Los Angeles investment property is quite high at approximately $1 million. “Filipinotown is south of the 101 freeway, which is just south of Echo Park, so those residents who can’t afford to live in Echo Park can find more cost-friendly options in Filipinotown,” Korobkin says. The median price of a single-family home in Los Angeles County was $650,000 in January, representing a sizable 8.5 percent increase over a year earlier. Densely populated and close to Los Angeles, Cudahy is one affordable suburb that’s sure to give you a taste of the big city life. Towards the southwest portion of Echo Park, wedged next to Koreatown is the laid back, urban neighborhood of Historic Filipinotown—fondly known by locals as simply “HiFi.”. The cities that made our top 10 list were those within the most affordable 30 cities which all had crime rates below the state average according to areavibes. minimum 6 characters that include 1 letter and 1 number. Those who want to be close to Culver will move to the west end of West Adams. The third most affordable city in California for 2020 is Taft. To determine the top neighborhoods price-conscious buyers should consider, neighborhoods.com factored in location within the city, home prices, convenience, walkability, and community atmosphere. Depends what you mean by affordable, of course, but if we take it to be a relative term. For those looking to live a bit further from LA and be surrounded by grass-covered hills and breathtaking views of the city, head towards the unassuming Elysian Park. Neighborhoods.com and our partner agents are not affiliated with or sponsored by communities or their associations. There’s the western end that’s adjacent to Culver City’s arts district. Equal Housing Opportunity CalDRE #01517281. 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. As a result, this neighborhood tends to attract professionals and recent college graduates. With a median home price in the high $400s, according to neighborhoods.com, purchasing a home in Boyle Heights is currently a steal. Paired with ride-sharing and taxi services, it’s rather easy to get around town without a car. With a higher-than-national-average median home price of $567,000, and with many neighborhoods boasting home prices well into the millions, Los Angeles is a pricey locale that’s rapidly developing. Norwalk makes our list of affordable suburbs thanks to the higher incomes that this area attracts—the second highest on this list. In addition to private schools, the neighborhood also offers a variety of private and parochial institutions. Some unknown facts about Los Angeles that you never knew about. The median annual income in this neighborhood is on par with Los Angeles at about $62,000. A twin city with Lancaster, Palmdale is another area of L.A. County that offers the ideal proximity to the City of Angels. Copyright© 2020 Neighborhoods.com, LLC. Los Angeles is a melting pot filled with people from all sorts of backgrounds and complete with a variety of job opportunities, businesses, and restaurants. But by doing a little research and looking outside of the main downtown area, it’s easy to find a suburb in your price range that fits your specific needs. Due to its close proximity to L.A., there are tons of cool amenities you won’t find elsewhere, including StubHub Center, home of Major League Soccer’s L.A. Galaxy. The 5 Most Affordable Places to Live in Los Angeles: The Verdict? The community in Santa Fe Springs is also very active, hosting a weekly farmer’s market, as well as “First Fridays,” which brings special events to the local residents for free at the public library every month. One of the main cities in the Antelope Valley region, Lancaster is about 60 miles from downtown Los Angeles—the perfect amount of separation from the hustle and bustle of the big city, but not so far that it’s impractical to visit. The peaceful Elysian Park neighborhood borders the LA River, which has been the target of many beautification efforts from the city these past few years. With several major projects heading towards Elysian Park, this laidback community is headed towards more growth and development. ... you have to deal with a high cost of living. Oops! The 4 Most Affordable Neighborhoods for Investing in Los Angeles Real Estate . This quality is no different when it comes to real estate in LA. But prospective homebuyers can still find relatively affordable neighborhoods in Los Angeles that are rich in culture and amenities. It has a relatively young population, with the median age at 27, and it’s home to a significant number of households with four or more people, which … Affordable housing in Los Feliz, where hipsters go to settle down, is but a distant memory. In addition to houses in Los Angeles, there were also 2715 condos, 658 townhouses, and 1570 multi-family units for sale in Los Angeles last month. The cities listed above have been chosen as the best places to buy a new home in California as they have seen high appreciation rates combined with a solid income to home price affordability ratio. We've just released an update for neighborhoods.com! Take a look at the table below. Events such as the annual Heritage Festival and Street Faire showcase the city’s assets as well as its small-town warmth. It has not been verified or approved by the developer or association. Average Sale Price: $751,000Properties For Sale: 58View Placentia Real Estate Now that you know the top 10 most affordable places to buy … Not only was it home to the original In-N-Out burger stand, it’s now home to huge Kaiser Permanente and UPS facilities. In Jan. 2018, there were 5,371 homes for sale, according to Redfin . It's a stretch to describe nearly any part of the California coast as affordable. It’s also home to the Auto Club Raceway and Fox Theater Pomona, a 1930s art deco movie palace. It looks like your Facebook account does not have an email address associated with it. Best Places 2019 Rank: 8 Metro Population: 2,382,037 Median Home Price: $375,425 Median Annual Salary: $55,330 Income Spent on Living Expenses: 24.84%. Bordered by Long Beach, Compton, and South Gate, the small suburb of Paramount is vibrant and diverse. If you want an affordable neighborhood that also tops the list for best places to raise a family in Los Angeles, Porter Ranch is the place for you! If you’re looking for a place to live that is both affordable and diverse, Valley Village is definitely worth checking out. 45 Los Angeles Facts They Never Taught You In School, 15 Things Only People From Los Angeles Will Understand, 30 Things People From Los Angeles Have To Explain To Out-Of-Towners, Safest Neighborhoods in Los Angeles for Families, 10 Los Angeles Stereotypes That Are Completely Accurate, These Are The 10 Best Los Angeles Suburbs To Live In, Best Neighborhoods in Los Angeles for Young Professionals, 2407 S Canfield Ave Los Angeles, CA 90034, 10777 Wilshire Blvd #209 Los Angeles, CA 90024, Living In Los Angeles: 20 Things You Need To Know First, Best Areas to Live in Los Angeles: 7 Up-and-Coming Neighborhoods to Buy into While Prices Are Still Low, 5 cities near Los Angeles Where You're Most Likely to Find a Job, Studio City CA: The Ideal Location of Los Angeles, Where to Live in Los Angeles Without a Car, Affordability ratio (median home value divided by median household income). The median listing price for homes in this community is around $500,000, with the median sales price for three-bedroom homes at $495,000. Los Angeles, San Francisco, Oakland and San Diego are among those cities listed as the most expensive in the United States. In 2016, perhaps paying homage to its agricultural roots, the city launched a certified Farmers Market that offers farm-to-table produce and meat, as well as a children’s zone and seasonal events. The median home price in this neighborhood is in the mid-$600s. The city also has its own public transportation system, the Carson Circuit. While houses in California’s major cities can get a bit pricey, there are plenty of smaller towns and cities where the cost of living is lower. The average price for a two bedroom apartment … AreaVibes used science and data to create a list of the best cities in California to buy a new home with a population over 5,000 people.