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Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I'd much rather pay $500/mo in rent than $1,000. And I'd rather pay $2 for coffee than $5.
And while every neighbhorhood in Los Angeles might be more expensive than living in rural California, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Los Angeles neighborhoods where your dollar goes a little further -- you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Los Angeles are the cheapest.
The Cheapest Neighborhoods In Los Angeles For 2022
What's the cheapest neighborhood to live in Los Angeles for 2022? According to the most recent census data, Lakeview Terrace looks to be the cheaptest Los Angeles neighborhood to live in.
At this point we should make it clear that you do get what you pay for -- some of these neighborhoods might not be the best places to live in Los Angeles. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Los Angeles that deserve a little bragging rights or maybe you're interested in the worst neighborhoods in Los Angeles.
Once you're done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more California reading, check out:
- Best Places To Live In California
- Cheapest Places To Live In California
- Cheapest Cities To Live In America
- Cheapest States To Live In America
The 10 Cheapest Neighborhoods To Live In Los Angeles For 2022
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Population: 14,460
Cost Of Living Index: 130 (18th cheapest)
Home Value To Income Ratio: 4.9 (4th cheapest)
Rent To Income Ratio: 0.018 (22nd cheapest)
More on Lakeview Terrace: Homes For Sale | Data
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Population: 21,104
Cost Of Living Index: 136 (27th cheapest)
Home Value To Income Ratio: 4.7 (3rd cheapest)
Rent To Income Ratio: 0.019 (23rd cheapest)
More on Mission Hills: Homes For Sale | Data
/10
Population: 26,759
Cost Of Living Index: 129 (16th cheapest)
Home Value To Income Ratio: 6.1 (22nd cheapest)
Rent To Income Ratio: 0.017 (16th cheapest)
More on Crenshaw: Homes For Sale | Data
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Population: 19,165
Cost Of Living Index: 137 (32nd cheapest)
Home Value To Income Ratio: 5.9 (20th cheapest)
Rent To Income Ratio: 0.015 (8th cheapest)
More on Sunland: Homes For Sale | Data
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Population: 46,531
Cost Of Living Index: 132 (2cheapest)
Home Value To Income Ratio: 5.4 (7th cheapest)
Rent To Income Ratio: 0.021 (35th cheapest)
More on Arleta: Homes For Sale | Data
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Population: 2,466
Cost Of Living Index: 102 (cheapest)
Home Value To Income Ratio: 2.2 (cheapest)
Rent To Income Ratio: 0.025 (62nd cheapest)
More on Fashion District: Homes For Sale | Data
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Population: 39,335
Cost Of Living Index: 136 (27th cheapest)
Home Value To Income Ratio: 5.4 (9th cheapest)
Rent To Income Ratio: 0.02 (3cheapest)
More on Panorama City: Homes For Sale | Data
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Population: 61,534
Cost Of Living Index: 127 (12th cheapest)
Home Value To Income Ratio: 6.6 (25th cheapest)
Rent To Income Ratio: 0.021 (37th cheapest)
More on Wilmington: Homes For Sale | Data
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Population: 67,623
Cost Of Living Index: 142 (40th cheapest)
Home Value To Income Ratio: 6.1 (2cheapest)
Rent To Income Ratio: 0.018 (20th cheapest)
More on Winnetka: Homes For Sale | Data
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Population: 31,007
Cost Of Living Index: 167 (58th cheapest)
Home Value To Income Ratio: 5.7 (14th cheapest)
Rent To Income Ratio: 0.015 (9th cheapest)
More on West Hills: Homes For Sale | Data
Methodology: How We Determined The Cheapest Los Angeles Hoods In 2022
In order to rank the cheapest places to live in Los Angeles, we had to determine what criteria defines "cheap".
Using census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 83 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the "Cheapest City Neighborhood In Los Angeles." We're lookin' at you, Lakeview Terrace.
Read on below to learn more about what it's like to live in the cheapest places Los Angeles. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
Summary: Lowest Cost Places To Live In Los Angeles
If you're measuring the neighborhoods in Los Angeles where prices are low and it's cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Los Angeles aren't all cheap. Sawtelle takes the title of the most expensive neighborhood to live in Los Angeles.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more California reading, check out:
- Most Dangerous Cities In California
- Richest Cities In California
- Safest Places In California
- Worst Places To Live In California
