Cost of Living: Los Angeles, CA vs New York, NY
A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between Los Angeles, CA and New York, NY.
Los Angeles
CA
Population: 3,820,914
New York
NY
Population: 8,258,035
Cost of Living Index Comparison
National average = 100. Higher values indicate a more expensive area.
Side-by-Side Comparison
| Metric | Los Angeles, CA | New York, NY | Difference |
|---|---|---|---|
| Cost of Living Index | 170 | 150 | +13.3% |
| Median Home Price | $850,000 | $680,000 | +25.0% |
| Property Tax Rate | 0.76% | 0.88% | -13.6% |
| Median Household Income | $75,902 | $74,694 | +1.6% |
| Population | 3,820,914 | 8,258,035 | -53.7% |
Cost of Living Breakdown
New York, NY is 13.3% cheaper to live in than Los Angeles, CA, based on the overall cost of living index.
Home Price Difference
$170,000
New York, NY is cheaper by 25.0%
Income Difference
$1,208
Los Angeles, CA earns more by 1.6%
Housing Affordability
Price-to-income ratio: median home price divided by median household income. A lower ratio indicates more affordable housing.
Los Angeles, CA
11.2x
$850,000 / $75,902
New York, NY
9.1x
$680,000 / $74,694
The Bottom Line
Overall, New York, NY is the more affordable city to live in. With a cost of living index of 150 compared to 170, a median home price of $680,000, and a price-to-income ratio of 9.1x, New York, NY offers better value for residents looking to stretch their dollar further. However, the median household income in Los Angeles, CA ($75,902) is higher, which may offset some of the cost differences.