09/24/2021

LA Storeys; Why Homes Even in the Unfashionable Parts of LA Cost So Much

A new study by the University of California, Los Angeles concludes that LA has the least affordable rental homes in America, and other reports rate California as the worst state both for renters and mortgage-payers (see map). The UCLA study reports that tenants in LA spend on average 47% of their gross income on rent—a higher share than in any other city. (Academics typically deem rent “unaffordable” if it eats up more than 30% of a household’s income).

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