Guess what it costs to live in LA in your average two bedroom apartment?
According to a Milken Institute study a person needs to earn One hundred and fuckin forty five thousand dollars. $145,000 per year to afford to live in LA in an average two bedroom apartment.
The average two bedroom in LA runs $2950 according to zumper and if a person spends the suggested 30% after tax dollar on housing then a person would need to make $145K to live here. That’s crazy. I don’t necessarily agree with the 30% and what ones spends on housing to live in LA but the jist is that the cost of living is causing workers and companies to leave LA and discouraging new skilled labor from moving here.