TV-land Los Angeles: Middle class families living in sprawling houses in suburban Los Angeles neighborhoods resplendent with green trees and parks not littered with condoms and gangster pedophiles. Actual Los Angeles: well, not that. All the working class and middle class families can't afford the exorbitant housing prices making it so that the average Los Angeles family can only afford 24% of the houses on the Los Angeles market. And most of those houses are in less desirable neighborhoods, like Central Los Angeles. According to Trulia, most people make about $53k a year, giving a single person only $271,000 to spend on a house. That will buy you a single apartment in a mediocre area in Los Angeles, 20 houses in Detroit, or you can just waste your down payment on beer and tacos like other 30-somethings in Los Angeles.
Average L.A. families can only afford 24% of houses on Los Angeles market.