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10 of the Most Expensive Cities to Purchase a Home in California
- Neighborhoods and News
- February 28, 2023
There is a High Demand for Housing in California
Many people dream of owning a home in sunny California, for good reason! This state is known for its year-round warm climate, abundance of outdoor activities, diverse cultural attractions, and outstanding academic institutions.
California, overall, has a lot to offer people when it comes to living there! However, it’s also known as the most expensive state in the country. The two largest industries in this area are technology and entertainment, which can attract people with lots of money.
In no particular order, below are the ten most expensive cities to purchase a home in California! If you’re in the market for a lovely house in a beautiful neighborhood, these are the areas you should scope out.
Atherton is located 20 minutes from Silicon Valley, outside San Francisco. This small community has only about 7,000 residents, but the median home value is around $7.4 million. With these numbers, Atherton is not just an expensive city in California but one of the most expensive places to live in the U.S.!
- Palo Alto
Palo Alto is home to Silicon Valley, one of the world’s largest tech hubs. The median home value in this city is $3.7 million, making it an expensive place to settle down. With many people flocking to this area for work in the tech industry, there is a limited supply of homes on the market due to high demand.
- Santa Monica
Santa Monica is a coastal city in Los Angeles with laid-back vibes that attract people worldwide. The median home value in this area is $1.6 million, and finding a property can also be challenging due to the high demand of interested buyers.
- Beverly Hills
Located in Los Angeles county, Beverly Hills is one of the world’s most famous and expensive cities. The median home value here is $3.4 million, and it has a reputation that attracts wealthy buyers worldwide.
- Newport Beach
Newport Beach is a town located in Orange County, California. The median home price here is $3.7 million, and it is home to many affluent family-friendly neighborhoods! Newport Beach could be the best choice if you’re looking for an expensive place to settle down.
- Santa Barbara
Santa Barbara is a picturesque city on the coast, south of Los Angeles. The median home price here is $1.5 million, less than the other areas mentioned on this list! However, there is a high demand for property in this relatively small city, making it an expensive place to live.
- San Diego
San Diego is a stunning coastal city in southern California with a vibrant cultural scene. It can be expensive to settle down with your family in this area since the median home price is around $924,000. However, it’s one of the most desirable places to live in the U.S., thanks to its sunny climate and thriving tourist industry!
- Del Mar
Del Mar is a wealthy seaside village located near San Diego. The median home price here is $1.4 million, thanks to its affluent gated communities overlooking the surrounding valley.
- Carmel Valley
Also in the San Diego area, beautiful Carmel Valley has a median home price of $1.2 million. The nearby schools in this city are ranked highest in the country, making it an excellent place for families and singletons alike!
- San Francisco
As the largest city mentioned on this list, San Francisco is one of the world’s most expensive places to purchase a home. The median home price here is $1.5 million, and the cost of living is almost double that of anywhere else in the country.
Looking for Property in California?
Find your dream home in southern California today! Contact Realtor Linda Moore for information about buying or selling properties.