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Laa Essay

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Due to one of the 5 axioms in Urban Economics- Prices adjust to achieve Location equilibrium- you can already assume that property prices in LA are going to be extremely high. LA has beautiful year-round weather, a huge economy for advancing industries and amazing geography. LA ranks 2nd out of 180 cities in the STC climate index, making it an ideal place to live. The average price of a housing unit in LA is right around $590,000, while the average price for renting a one-bedroom apartment is $1,949. If you want a two-bedroom apartment, the price rockets up to $2,846. In the rest of California average house prices are around $477,500, which is 25% less than in LA. In comparison to the rest of the nation, Prices for owning/renting housing …show more content…

The freeways in LA are 6 lanes and they do offer carpool lanes and FastTrack, which makes commuting by car a tad faster. The other alternative is using public transportation in which the cost for a single ride on the LA metro is $1.75, and a 30-day pass is priced at 100$. With all the mass transportation, LA’s environment is taking a beating. In 2013, the Los Angeles ranked number 1 in most ozone-polluted city, 4th most polluted city by annual particle pollution, and the 4th most polluted city by 24-hour particle pollution. All the pollution could potentially lead to respiratory harm, early death, and even cancer. California implemented the Diesel Emissions Reduction Act (DERA) In 2005, which retrofitted and replaced older diesel engines most likely to impact human health. Income and Poverty In 2016, the average calculated income to live a comfortable life in LA was around $74,371. Today, the average median household income in LA is around $54,432 and the per capita income is around $31,619. For Living in LA, where the cost of living is one of the highest in the United Stated, 31k per person isn’t much. The reported Gini coefficient in LA is 49.9, meaning that the distribution of wealth is horrible in LA. In fact, 19.5 percent of people live under the poverty line. Most of these folks live in poor neighborhoods with bad reputations. Some of the poor areas include Compton, Lincoln Heights, and South

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