Is North Hollywood a Good Place to Live?

While California is a great place to live, the high cost of living really determines just how well you enjoy the best part of this state. 
As a result, many people tend to opt for the more affordable neighborhoods or areas that allow them access to the big city benefits of CA on a budget. If you belong to this group, North Hollywood might be your perfect choice. 
NoHo, as many people call it, is a neighborhood in Los Angeles, CA, that’s located in the San Fernando Valley. Although the neighborhood doesn’t have direct access to the rest of Los Angeles because of the Hollywood Hills between them, NoHo is a thriving community in its own right. 
With urban convenience and great job prospects for artists and professionals, the area offers benefits in abundance. But in general, is North Hollywood a good place to live? 
Let’s find out!

The Financial Picture: Cost of Living in North Hollywood

Like much of Los Angeles, North Hollywood isn’t exactly cheap — cost of living is a staggering 41% higher than the national average and 2% above the California average
But it’s not the priciest neighborhood in the city either. It truly makes it a good middle ground for those looking to balance cost with lifestyle.
NoHo will have deep portions of your pocket, so if the movers North Hollywood, CA, offers are going to be your chauffeur into the city, your best bet is to pick the one offering the most value for money.

• Housing costs

When factoring in your North Hollywood cost of living, know that the biggest part of your budget will likely go toward housing. 
Rent for about 86% of the one-bedroom apartments in North Hollywood typically ranges from $1,501 to $3,000 per month. The remaining 14% tether at costs from $3,001 to $4,500. 
Moreover, this cost is highly dependent on the location and amenities. If you’re thinking of buying, the home prices can be as high as $1M. However, this can vary widely depending on the size and style of the home. 

• Average House Rent: $2,346
• Median Home Value: $956,000 

Note:
Housing costs have been on the rise, reflecting the area’s growing popularity. However, the real estate market is largely a buyer’s market, as homes often sell 6.86% below the listing price.

• Utilities and groceries

Monthly utility bills (electricity, heating, cooling, water, garbage) can add another $150 to $350 to your expenses. 
Expect to pay about 2.8% higher than the national average for food and groceries. This means that you might run around $300 to $400 per month on food and groceries for a single person.

• Other living expenses

When you think about it, North Hollywood is well-connected by the Metro Red Line, which will save you some cash on transportation costs. A monthly Metro pass costs about $79 — averaging $72 to $110, depending on location.
Regardless, it’s much cheaper than the costs associated with owning a car in LA. For instance, gas costs about $4.29 per gallon, and you’re yet to factor in expenses like insurance and parking fees.

Inflow and Outflow: Salaries and Taxes

One of the factors to consider when asking, ‘Is North Hollywood a good place to live?’ is how you can balance out what you earn with what you owe.

• Taxes 

If you’re moving from out of state, prepare for a higher tax burden. 
The state income tax rate can be as high as 12.3% for top earners or as low as 1%, while the sales tax rate in Los Angeles County is 9.5%.

• Income Tax Rate: 1% – 12.3%
• Sales Tax Rate: 9.5%
• Property Tax Rate: 0.75%

• Salaries 

The average salary in North Hollywood is $82,000 annually, higher than most other places in the U.S. Depending on your field and experience, you could earn higher or lower than this.
For instance, jobs in the entertainment, tech, and creative sectors are common here. However, their pay can vary widely, but they tend to be on the high side. 

• • Median Household Income: $69,666
  • Unemployment Rate: 4.5%
• Poverty Rate: 17.3%

Note:
The average salary for a high school teacher is $86,743, while the average salaries for an account manager and software engineer are $56,316 and $99,500, respectively.

The Vibe of North Hollywood

Living in North Hollywood means constant access to tap into its creative energy. 
Thanks to its thriving arts district, NoHo is a place where you’ll find a mix of artists, actors, musicians, and young professionals.

• Arts and entertainment 

The NoHo Arts District has lots of theaters, galleries, and studios. 
From live theater performances to independent film screenings, there’s always an opportunity to get closer to the arts. 
If you’re an aspiring artist or just someone who appreciates creativity, you’ll feel right at home here.

• Cultural diversity

Here’s a fact: NoHo is one of the most diverse neighborhoods in Los Angeles. 
Its diversity is reflected in the food, festivals, and community events, such as the annual ArmeniaFest and Latino Dia de los Muertos celebrations.
Plus, it even runs deeper to its cuisines — from authentic Mexican street dishes to delicious Thai curries.

Neighborhood Convenience and Security

NoHo wasn’t always an urban neighborhood. It was first a farming community that developed fast, largely due to the influence of downtown LA and Hollywood.
The area has since seen significant gentrification over the past few years. It brought in new businesses and developments but has also driven up North Hollywood’s living costs and displaced some long-time residents. 
Luckily, with many job opportunities in different industries, it makes it a bit easier to offset the high living costs in the neighborhood for many people.
Other aspects of living in NoHo include:

• Walkability

Most parts of North Hollywood are pedestrian-friendly, thanks to an intentional neighborhood development effort. 
It makes a great choice for those that prefer to get around on foot. Plus, it’s a great opportunity to also avoid the bad traffic conditions that plague the area sometimes. 
The neighborhood’s walkable streets and public spaces also encourage a more active and social lifestyle, which is a big plus for many residents.

• Noise pollution 

With all the hustle and bustle, North Hollywood can be a noisy place to live. 
The noise level might be higher than what you’re used to, whether it’s the sound of traffic, construction, or late-night festivities. It’s especially the case if you’re coming from a quieter area.

• Crime

At this point, you might be itching to ask, ‘Is North Hollywood safe?’ 
Like many urban areas, North Hollywood does have its share of crime. While it’s generally safe, especially in the more residential areas, property crime like burglary and car theft can be an issue. 
It’s important to stay aware of your surroundings and take common-sense precautions to keep yourself and your belongings safe.

Note:
There’s a 1 in 30 chance of being a victim of property crime. Meanwhile, violent crime takes it easy at 1 in 87 chances of falling victim.

Is North Hollywood a Good Place to Live — Endnote

So, is North Hollywood a good place to live? 
It might be a great fit for you if you prefer an artsy, diverse, and lively community. However, you’ll need to weigh the financial aspects, such as the high cost of living, income, and taxes. 
Plus, you need to know that things like traffic challenges, noise, and a slightly higher-than-average crime rate are some of the trade-offs that come with the urban life of NoHo.
So, try to balance these pros and cons to see if NoHo is the right spot for you.