Let's start with renting in Los Angeles. Similarly to New York, it's already fairly known that renting a place in LA is perhaps one of the most expensive endeavors a person can go through. Not only is most of the city prime real estate, but there are also so many people who want to live here that it's cut-throat looking for a place to stay and sustaining it while you're here. Renting a one-bedroom apartment in the heart of the city will already cost you about $1,700.00 to $3,000.00 a month, while it's $3,200.00 to $5,802.14 for a three-bedroom.
While renting an apartment will already cost you a couple of thousands of bucks, what more when actually buying property here? Well, tens and most probably hundreds of thousands of dollars as well. The price per square meter for an apartment in the more urban areas of LA will cost you around $6,458.35 to $10,763.91. Multiply that with the number of square meters of the apartment you want to buy and you've got yourself a doozy! Outside of the city center, however, the price per square meter is from $4,116.63 to $7,480.92. Lower than the former, yes, but in total, it's just as pricey!
Fortunately, since renting or buying an apartment will already break the bank for you, the utilities costs will only cost less than $200.00 per month. $194.52 to be more specific! The total of the basics alone—electricity, water, heating, etc.—will only cost a minimum of $70.00 to a maximum of $245.00 a month. And unless you live in a penthouse or a complex apartment with more than three bedrooms, you'll rarely have to pay the maximum every month. Meanwhile, installing a WiFi system in your apartment will mostly only cost you $50.00 to $83.00 depending on the company you go for and the package they offer.
You'd also be surprised that a trip to the market will only cost you a little over $100 when in LA. Of course, this might go way up or perhaps even down a little depending on the type of grocery store you'll frequent. Either way, a normal trip to a standard grocery store will cost you an average of $105.23—a total of median prices of various goods. That price already took to account a liter of milk, a dozen eggs, one kilogram each of various fruits, vegetables, and meats, and even alcohol if you're a regular drinker.
Now, when it comes to dining in LA, this is also very much dependent on where you frequent. It's no secret that LA restaurants are some of the swankiest establishments in all of the city. Some spots are so nice that you'd even want to work in them! However, if you do go to such places, expect to shell out more money than you probably thought. If you stay within the middle-class-range of establishments though, as well as fast food places, you'll only spend more or less $121.94 a meal. It's not that bad if you're not one to go out every night.
In terms of transportation, this is probably where you'll need to shell out a lot of money so you can live easier here in LA. Because unlike in New York and Washington D.C., while LA's public transport systems are still pretty efficient, the vastness of the city makes commuting here slightly more challenging than the former cities. Price-wise, you'd only have to spend practically $135.48 in a total of median prices throughout the various public transport systems in the city, but it's the waiting time that will kill you. You're better off investing in a car, which will cost you a minimum of $21,845.00 to a maximum of $25,000.00 depending on the type of vehicle and model.
Surprisingly, however, leisure is a lot cheaper in LA. Of course, this still depends on where you spend your money on. For one thing, joining an LA gym or fitness club will only cost you around $25.00 to $80.00. But if you go for a more luxurious gym, the price goes beyond $80.00. And they'll be a lot of them too, as 'Tinsel Town' is known to be one of the capitals of fitness. Going to the movies is a lot more expensive here than in other cities, with ticket prices ranging from $14.00 to $20.00, while in other cities, they rarely reach the maximum point.
Shopping is yet another favorite pastime here in LA. You wouldn't expect the city that houses and employs some of the biggest stars in the world to be unfashionable, would you? Of course not! Los Angeles is as much a shopping haven as the likes of New York, Paris, London, and more. Rodeo Drive in Beverly Hills alone is one of the most popular shopping districts in all of the world. It's here where many of the biggest luxury brands you know are located. Though if you can't afford any of them, shopping in various high-street and contemporary brands will cost you a total of $275.15.
Finally, there's investing in your children. Expect this to be the most expensive cost of living in LA. You are paying money for the growth and development of another human being, after all. Enrolling them in a pre-school, kindergarten, and such will cost you around $710.00 to $1,666.67. The more private the institution you go for, the more expensive it will be. The same goes for enrolling them in a private or international primary school, which costs between $9,600.00 to $32,000.00. If this all sounds too overwhelming, you can always opt for a public school, most of which are free!
Should you even expect anything less from the city that houses Hollywood? Of course, living in Los Angeles would be expensive! It has to be when you're actually residing in the area where some of the most famous people in the world live!
If money isn't an issue for you, then go for a luxurious LA apartment as your accommodation here! Might as well go for the best of the best whilst in the "City of Angels," right?