HUD RELEASES H+T CALCULATOR TO ASSESS THE TRUE COST OF WHERE YOU LIVE

Many consumers make the mistake of thinking they can afford to live in a particular house or apartment because they know they can make the rent or mortgage payment. What they may not know when choosing where to live is whether they can also afford the cost of transportation to and from their new home. The "Location Affordability Portal" -- a project of the U.S. Department of Transportation and HUD -- allows consumers to calculate the combined cost of housing and transportation associated with living in particular region, neighborhood or street, enabling consumers to make more well-informed choices. Users enter basic information about income, housing, cars and travel patterns, and get customized estimates of transportation costs.

The combined cost of housing and transportation consumes 40% of a household budget nationally, and more than 53% in Los Angeles. There's more information about the LAP here.

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