A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between New York, NY and Los Angeles, CA.
NY
Population: 8,258,035
CA
Population: 3,820,914
National average = 100. Higher values indicate a more expensive area.
| Metric | New York, NY | Los Angeles, CA | Difference |
|---|---|---|---|
| Cost of Living Index | 150 | 170 | -11.8% |
| Median Home Price | $680,000 | $850,000 | -20.0% |
| Property Tax Rate | 0.88% | 0.76% | +15.8% |
| Median Household Income | $74,694 | $75,902 | -1.6% |
| Population | 8,258,035 | 3,820,914 | +116.1% |
New York, NY is 11.8% 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 20.0%
Income Difference
$1,208
Los Angeles, CA earns more by 1.6%
Price-to-income ratio: median home price divided by median household income. A lower ratio indicates more affordable housing.
New York, NY
9.1x
$680,000 / $74,694
Los Angeles, CA
11.2x
$850,000 / $75,902
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.