Most Expensive California Cities To Buy A Home

Expensive California Cities To Buy A Home, James W. Marshall made the first gold discovery in California in 1848 at Sutter’s Mill. The famous Gold Rush, a time of intensive immigration as people searched for gold, was hence sparked by the discovery. San Francisco had a population of only 500 or so in 1847. But within a few months of James Marshall’s discovery, that number increased to more over 20,000.

California had become the 31st state of the Union by 1850. More than a million individuals called the state home after 50 years, and another five brought the total to 10 million. Expensive California Cities To Buy A Home

California will have well over 30 million residents in 2022. The state is an expensive place to live as a result of the legacy of gold and other wealthy industries.

Everyone in the United States wants to own a home, but California is one of the states that makes it difficult for someone with ordinary income to do so. It is regarded as the most costly state in the nation to live in.

Equally important to remember is that the Gross State Product (GSP) of California is bigger than the combined GDP of all African nations.

One of the most lucrative investments in California is real estate.

It is not implausible to attribute California’s high cost of living, which includes rent and property ownership, to the fact that the state is home to many millionaires and billionaires in the United States as well as top-tier tech companies.

Expensive California Cities To Buy A Home

Despite the concentration of government offices in the capital, Sacramento, the capital of the most populous U.S. state, is not the most costly city to buy a home.

10 Most Expensive Cities In California

1. Los Altos

Median Home Price: $4.4 million
Median Price Per Square Foot: $1,700
Area Population: 30,878
Fun City Fact: Los Altos is one of the wealthiest towns in America

The most expensive city in California is Los Altos.

The wealthiest and most powerful people in Silicon Valley albeit reside in Los Altos. One of the wealthiest regions in California is the tech hub, and Los Altos is also one of the wealthiest cities in the country.

The city’s typical household income as of 2018 was over $240,000 annually, which is higher above the statewide median, by comparison, of little over $66,000.

Los Altos houses also cost a lot of money as well. Los Altos is the most expensive city in California since the median property there is worth almost $4,500,000.

2. Santa Barbara

Median Home Price: $3.6 million
Median Price Per Square Foot: $1,100
Area Population: 90,911
Fun City Fact: This city is home to Channel Islands National Park

Santa Barbara combines the natural splendour of a small town with the cultural offerings of a medium-sized city. In the archipelago that Channel Islands National Park offers off the coast of Santa Barbara, you may trek, snorkel, and kayak. Visitors can generally explore a variety of museums, eateries, stores, and other attractions on the mainland.

The median price of a home sold in Santa Barbara is $3.6 million. More than 90,000 people live in the affluent suburb, and the most expensive homes there fetch well over $50 million.

The median price per square foot as of 2022 is more than $1,000.

Did you know?
Within the city boundaries of Santa Barbara, there are 30 neighbourhoods.

3. Malibu

Median Home Price: $3.6 million
Median Price Per Square Foot: $1,500
Area Population: 12,280
Fun City Fact: Malibu spans 30 miles along Highway One and the Pacific Ocean

One of California’s most well-known seaside communities is Malibu. Coupled with having the wealthiest entrepreneurs in the state, the city is home to prominent athletes and members of Hollywood’s elite. The city, which stretches 30 miles along the shore, provides an unmatched beachy atmosphere and breathtaking sunsets every evening.

Malibu is incredibly beautiful, but that beauty comes at a high cost. Malibu ranks third in terms of cost of living in California with a median home value of about $3,500,000.

Did you know?
If you can drag yourself away from the sand, Malibu has a wide range of inside attractions, such as dining establishments and shops.

4. Palo Alto

Median Home Price: $3.5 million
Median Price Per Square Foot: $1,700
Area Population: 67,973
Fun City Fact: Palo Alto is home to Stanford University

Palo Alto, which is home to Stanford, is a popular neighbourhood for wealthy CEOs, scholars, and venture investors. The wealthy neighbourhood of more than 60,000 inhabitants has a fusion of urban and natural beauty, with costly homes and flora frequently seen.

With an average home price of $3.5 million, Palo Alto is the fourth most expensive city in California.

Did you know?
One of the top private universities in the world is Stanford University. The university is popular for its medical and legal faculties as well as for having produced notable graduates including President Herbert Hoover and Supreme Court Justice Sandra Day O’Connor.

5. Newport Beach

Median Home Price: $3.2 million
Median Price Per Square Foot: $1,300
Area Population: 86,694
Fun City Fact: Newport Beach is home to Balboa Island

Balboa Island is a little settlement in Newport Beach that can be reached via a bridge or ferry. There are many cottages on the island, and there is also a small commercial area where you can get a range of expensive goods.

While the city has ice cream parlours, boutiques, and other amenities, the shoreline of Newport Beach is frequently lined with yachts. Expensive California Cities To Buy A Home

Newport Beach, with an average house value of more than $3 million, is the fifth most expensive city in California as of 2022. Would you choose to call this costly city home?

Did you know?
In Orange County, Newport Beach is around 50 miles from downtown Los Angeles.

6. Manhattan Beach

Median Home Price: $3 million
Median Price Per Square Foot: $1,400
Area Population: 35,064
Fun City Fact: Manhattan Beach hosts the International Surf Festival

Luxury beachfront living is a Manhattan Beach trademark. The seaside community is characterized by luxurious homes, picturesque streets, and palm palms, while surfing and other ocean activities are popular pastimes.

In Manhattan Beach, the average home costs millions of dollars, and half of them are sold for more than $1,400 per square foot.

Manhattan Beach is home to the International Surf Festival and the renowned Manhattan Beach Pier in addition to expensive real estate. Along the coastline, it’s simple to see tourists, but local families appreciate the excellent schools and pleasant weather.

Did you know?
One of Manhattan Beach’s priciest homes is estimated to be worth more than $30 million as of 2022.

7. Burlingame

Median Home Price: $2.9 million
Median Price Per Square Foot: $1,300
Area Population: 30,106
Fun City Fact: Burlingame is known as The City of Trees

About 30,000 people call Burlingame home, many of them young professionals and families. The community is notable for its outstanding quality of life.

Due to its lovely combination of urban and natural areas, the region is sometimes referred to as The City of Trees. Its close proximity to San Francisco also makes it a popular choice for those seeking a quieter lifestyle without sacrificing big-city advantages.

Burlingame is the seventh most expensive city in California according to its median home value. As of 2022, half of the local homes are sold for more than $2.9 million, while the most expensive properties in the city can fetch more than $5 million.

8. Laguna Beach

Median Home Price: $2.9 million
Median Price Per Square Foot: $1,600
Area Population: 22,795
Fun City Fact: This city features over 20,000 acres of protected wildlife spaces

A coastal city in Southern California called Laguna Beach is popular for its picturesque surroundings and upscale real estate. By 2022, there will be roughly 23,000 people living in the neighbourhood, and half of the homes there will cost more than $2.9 million.

The city’s breathtaking beachfront location undoubtedly contributes to such high rates. Living by the ocean is great, according to a local real estate agent: “The Laguna Beach lifestyle is, in a word, awesome!” Additionally, she claims that the city offers a “escape” with its palm tree-lined avenues and tranquil sound of breaking waves.

Did you know?
There are numerous creative arts festivals in Laguna Beach, as well as regional museums.

9. Beverley Hills

Median Home Price: $2.9 million
Median Price Per Square Foot: $1,300
Area Population: 31,896
Fun City Fact: Beverly Hills is home to the famous Rodeo Drive

Perhaps the most famous city in California is Beverly Hills. The wealthy region is notable for tourist hotspots like Rodeo Drive, an iconic shopping street with high-end stores and affluent patrons. Expensive California Cities To Buy A Home

Exorbitant-powered CEOs and Hollywood stars alike call Beverly Hills home, and housing prices there are as high as you might imagine.

In Beverly Hills, half of the homes are worth more than $2.9 million, with the most costly homes selling for more than $20 million.

Did you know?
When developer Burton Green created a community in Los Angeles County, Beverly Hills was born. A few years later, in 1914, the subdivision was incorporated as Beverly Hills.

10. Hermosa Beach

Median Home Price: $1.9 million
Median Price Per Square Foot: $1,400
Area Population: 19,314
Fun City Fact: Hermosa Beach features 94 acres of public beach space

More than 90 acres of open space make up the public beach in Hermosa Beach, a well-liked community notable for its surf, swimming spots, and close-by stores and eateries. Tourists love the Hermosa Beach Pier, but locals prefer the picture-perfect, vintage California-style neighbourhoods.

Hermosa Beach is the tenth most expensive city in California according to the median house sale price. Half of the city’s homes will be worth more than $1.9 million by 2022, or $1,400 per square foot of living space.

Did you know?
Surfing competitions are frequently held in Hermosa Beach for both locals and visitors.

FAQs About California

Where in California is the happiest location to live?

The U.S.’s happiest city overall was determined to be Sunnyvale. Sunnyvale got the best quality of life rating of any city evaluated, and it is situated immediately north of Cupertino outside San Jose.

Is it expensive to buy a home in California?

The fact that California is the most populous and third-largest state in the nation explains why it is in second place. The median price of a property is $505,000, and the average mortgage payment is $2,399.32 per month.

Which Californian city has the biggest homes?

Some of the most luxurious residences in the entire globe may be found in Los Angeles. Many of the properties in the Platinum Triangle, which consists of Beverly Hills, Bel Air, and Holmby Hills, are more than 10,000 square feet and are worth much than $10 million.

In California, where would be the ideal location to raise a family?

San Jose

Due to its low crime rate, abundance of outdoor activities, and presence of a variety of Asian and Latino cultural influences, this city is among the greatest areas in California for families to live. When you wish to visit the coast, San Francisco is also an hour away.

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10 Most Expensive California Cities To Buy A Home

Most Expensive California Cities To Buy A Home