Well you should really live near your work I'll tell you that.
True, but if you're going to work in production, that's impossible. One day your work will be in Burbank and the next day it will be in Manhattan Beach. Unless you either a)don't work in production, or b) are lucky enough to get on a television series that's largely stage bound and stays on the air for at least 5 years, you're just not going to be able to choose where your work is. And L.A. is an awfully big place.
One should live where one wants to live and can afford to live. Those are often not the same thing, but if they are, they should be the overriding factors.