California is famous for many things – sandy beaches, surfers, movie stars, and that laidback lifestyle. It is also the world’s fifth-largest economy, beating out countries like India and the United Kingdom for its spot. People will pay top dollar to live in the most affluent state in America. Here are the five most expensive places to buy property in California.
5. Los Altos
Spanish for ‘The Heights’, the city of Los Altos comes in at number five on our list of most expensive places to live in California. Nestled on the north-west side of the Silicon Valley, this was once known for beautiful apricot orchards and summer cottages. Now, it’s home to wealthy commuters.
The cost of living in Los Altos is ~197% higher than the national average. According to Property Shark’s 2019 report, the average sale price of a home in The Heights is $3,450,000. Its seven shopping sectors include boutique stores and restaurants, making this a fantastic area to call home.
4. Palo Alto
The birthplace of Stanford University, Palo Alto is a mainstay in Silicon Valley. Home to highly educated residents, as well as major corporations such as Apple, Google, Facebook, and more, homes here go for around $3,500,000.
With its public transportation, cyclist, and pedestrian-friendly layout, you’ll have no issue traveling in this city. In addition to being known for its smarts, Palo Alto’s culture and entertainment are woven into its DNA. An abundance of nature trails and parks, as well as historical architecture and museums will keep your calendar full!
3. Beverly Hills
The 90210 soars in at the third most expensive place to buy property in California. From Rodeo Drive to The Beverly Hills Hotel, Beverly Hills (BH) is where many notable celebrities lay their hats. Despite the average cost of a home being around $4,080,000, many Beverly Hills mansions are valued much higher. Jeff Bezos recently purchased a home here for 165 million dollars!
Have lunch at The Ivy on Robertson Boulevard, pick up a scarf at Hermès on Rodeo, and enjoy a spa with celebs. Catch a glimpse of a movie shoot on the street and keep up with the newest and most exotic cars. There is no shortage of things to do in Beverly Hills for the right price.
2. Santa Monica
Santa Monica is exactly what you think a California beach town would be like. This beachfront city on the west edge of Los Angeles County is the second most expensive place to live in California. More than 100 years old, the Santa Monica Pier is a staple in southern California history and culture. With amusement park rides, shops, restaurants, and entertainment, it is also a popular filming location.
An average home in Santa Monica costs $4,150,000, although they can run upwards of $10M. Santa Monica has many parks, great schools, and tons of entertainment. Go shopping, watch street musicians, and have dinner at the 3rd Street Promenade. Then take a drive up the Pacific Coast Highway and bask in a spectacular western sunset!
Located in the San Francisco metropolitan area, Atherton is the upper crust of California living. This town is known for its wealth. With a total area of only 6 square miles, Atherton is as exclusive as it is gorgeous.
Its variety of trees including live oaks, white oaks, bays, redwoods, cedars, and pines serve as a beautiful backdrop for its multimillion-dollar properties. At an average cost of $7,050,000, your neighbor might be NBA player Steph Curry or WhatsApp founder and billionaire Jan Koum!