Are you curious to find out the richest neighborhoods in California?
If you want to live in a great neighborhood, then the best place to look is California. There are many beautiful neighborhoods throughout the state and they come with their own unique characteristics.
If you want to know which neighborhoods are the best, then these six will be a great starting point. No matter what your tastes may be, it is possible to find a perfect neighborhood here in California!
- California’s Richest Neighborhoods
- 1. Cameo Highlands & Cameo Shores
- 2. Corona Del Mar Beach
- 3. La Jolla Farms
- 4. Pelican Crest & Pelican Hill
- 5. Beverly Park
- 6. Holmby Hills
- Pros and Cons of Living in the Richest Neighborhoods in California
- Pros of Living in the Richest Neighborhoods in California
- Pros of Living in the Poorest Neighborhoods in California
- Cons of Living in the Richest Neighborhoods in California
- Cons of Living in Poorer Neighborhoods in California
California’s Richest Neighborhoods
The majority of California’s wealthiest communities are located near some of the state’s major cities, such as Los Angeles, San Diego, and San Francisco. However, they are frequently several miles away from the city center and tucked away in the hills or on the coast for added seclusion.
It’s also not surprising that many of these communities are among the wealthiest in the United States, as well as California. California has numerous locations that are perfect for high-end, exclusive living with access to warm weather, beautiful beaches, and major metropolis areas.
To begin, we must agree on what is considered “wealthy” and what is referred to as a “neighborhood.” Our definition of “rich” is based on the median family income and real estate values in a given region. Meanwhile, a “neighborhood” was defined as a small area within a town or city.
1. Cameo Highlands & Cameo Shores
Newport Beach or the Corona Del Mar region’s most prestigious neighborhood, the Cameo Highlands and Cameo Shores, is located in the country’s wealthiest area. Next to Pelican Hill and Pelican Crest, the village of Cabo Negro is a bit closer to the sea.
A large portion of the homes in this region are on the beach. As a consequence, there are numerous people who have their own private beach in their houses. Overall, there are approximately 150 houses in this neighborhood.
In Cameo Highlands and Shores, a typical household earns roughly $554,000 in revenue, which enables them to acquire properties for a minimum of $3 million. The typical house in this neighborhood costs between $15 million and $20 million.
In this market, some properties have been valued at upwards of $50 million or more, such as this $58 million seaside mansion that was put on the market in April 2021.
Is it worth the trip? You’ll have magnificent views of the ocean in a peaceful setting if you go north, whereas a short drive (or helicopter ride) will take you to Los Angeles or San Diego. So it appears to be an ideal balance of peace and accessibility, making it one of California’s most desirable rich enclaves.
2. Corona Del Mar Beach
Corona Del Mar Beach, one of the city’s wealthiest areas, is located on the beach. It is located south of Newport Beach and takes about 45 minutes to get to Los Angeles.
The average median household income in this neighborhood is $441,000, with home values ranging from $2 million to $30 million for luxury homes with their own private beachfront.
In California, Laguna Beach is an affluent city near world-famous beaches such as Newport Beach, Laguna Beach, and Corona Del Mar Beach.
3. La Jolla Farms
La Jolla Farms is a small, coastal parcel of property located between La Jolla and Torrey Pines, about 20 minutes from downtown San Diego. La Jolla Farms Road is a quiet, residential street that extends through the community from the north to south. The neighborhood is bordered on one side by La Jolla Farms Road and on the other side by Scripps Ranch Boulevard. The UC San Diego campus is located only a few miles from here.
Income of $408,000 is the median income for families residing in La Jolla Farms, while listings are typically less than $5 million. There are, however, only a few listings every year due to the fact that this is such a tiny location. However, if one does exist, you can anticipate to spend anything from $10 million to $15 million.
4. Pelican Crest & Pelican Hill
Both Pelican Hill and Pelican Crest are private, gated communities in Newport Beach, California. These intimate clusters are close to Corona del Mar Beach but are somewhat higher up on the hills overlooking the Pacific Ocean. The lake is located in the city of Newport, California, which offers golfing courses, ski resorts, and so much more. It also boasts the Pelican Hill Golf Club, which is conveniently located in the area.
This is a lovely neighborhood with approximately 200 residences and an average household income of $549,000. Throughout the entire area, houses go for at least $4 million on average. People wanting to build a new dream house would pay an average of $10 million for a vacant lot. It looks and feels like one of California’s most wealthy areas.
The Beach Cities, which include Pacific Beach and La Jolla, are some of the wealthiest areas in California. We’ve even seen multimillion-dollar listings for currently owned homes. But you’ll be treated to spectacular ocean views and easy access to Los Angeles after you arrive.
5. Beverly Park
The famous Beverly Park area is well-known for its celebrity inhabitants as well as its spacious fantasy homes and stringent security. This guarded community has been widely written about as a refuge for the wealthy and famous since it provides seclusion from the general public and a 24-hour security staff.
Additionally, photographs are strictly prohibited in this area. Beverly Park is located north of Beverly Hills in the San Fernando Valley, which is among California’s wealthiest regions. The neighborhood is made up of just a little more than 100 homes, and it’s divided into two pieces: Beverly Park North and South.
The neighborhood’s bylaws state that each new home must be at least 5,000 square feet, but the typical house is actually around 20,000 square feet.
According to Zillow, the median household income in Los Angeles is $502,000, which is somewhat less than some of the previous neighborhoods. Beverly Park is home to several well-known celebrities, including Denzel Washington, Faith Hill, and Tim McGraw.
If you’re interested in joining them, be prepared to spend some money. A vacant lot here will set you back $30 million, on average. We’ve also seen houses for sale for up to $85 million, making it one of the most exclusive and wealthy communities in California.
In 2021, Villa Firenze, known as the Italian-themed mansion was sold for $51 million, although it was originally advertised at $165 million.
6. Holmby Hills
According to Zillow, the area of 6 square miles in Westwood, Los Angeles, California, known as Holmby Hills is home to the highest median household income in the United States. It is located in the Westside of Los Angeles, adjacent to Beverly Hills and Bel Air. It is part of the wealthy “Platinum Triangle” in Los Angeles that also includes Beverly Hills and Bel Air.
This community is known as the center of the wealthy and famous. Walt Disney, Frank Sinatra, and The Playboy Mansion all resided in this area. Kylie Jenner recently bought a $36.5 million property here, while Google’s CEO paid $61.5 million for Barron Hilton’s former home, which was once the mansion of Barron Hilton,
The median household income in Holmby Hills is $585,000, while the most affordable home on Zillow was $5 million. Meanwhile, average values were around $20 million per property, with the highest priced estate going for an incredible $125 million.
Why is it so well-known? We believe that its remote mountainous location appeals to celebrities seeking seclusion while still allowing them to be in touch with the rest of Los Angeles for filming movies (and going to parties).
Pros and Cons of Living in the Richest Neighborhoods in California
Whether you’re looking for work in California or are thinking about moving there to retire. You must get your concerns addressed.
The most important question of the day, in particular. Is California a desirable place to reside? So, to make things easier for you, we’ve compiled a list of the most significant living in California benefits and drawbacks.
Pros of Living in the Richest Neighborhoods in California
Has a Relatively Low Cost of Living – Compared to other states in the US, California is among the cheapest. It’s no surprise then that it also has one of the highest number of million-dollar earners per capita.
A Lot of Opportunities – People in California enjoy a lot of opportunities, which means that they’ve got plenty of chances to make the most out of their lives. It’s said that there are more than 1 million millionaires and 3,000 billionaires living in this state today.
Climate and Geographic Location – Among the US states, California ranks third in terms of its weather. It’s best known for the constant warm breeze that hits the coast and provides an additional incentive to buy a home in California .
Outdoor Activities – With respect to area, this state is also very big; it occupies almost five percent of US land. A major part of it is occupied by mountainous terrain that’s great for outdoor activities.
Taxes – Tax burdens in California are among the lowest in the US. A few years ago taxes on income coming from investments were dropped completely. There are no estate taxes, inheritance tax or capital gains tax either, so this state proves to be a haven for people with high net worth.
Pros of Living in the Poorest Neighborhoods in California
There are a few undeniable benefits of living in poorer neighborhoods as well. In fact, people who live there can usually provide you with some honest insight as to whether or not this place is right for you. Some of those advantages include:
No Traffic – One of the things that you’ll notice right away if you’re not used to living in a place like California is that traffic is next to nonexistent. This means that no matter where you live, if your job is located within 5 miles of your home , it’s always going to take less than 20 minutes for you to get there.
It also helps that people don’t drive too fast, and this is due to the fact that some areas aren’t as safe as others. Thus, they’re always trying to get there as soon as possible without getting into an accident.
Lower Cost of Living – Another benefit of living in a lower-income neighborhood is that you won’t have to spend too much money on daily necessities. However, this is only true if you’re smart enough to buy yourself a home in one of the poorest areas.
If you take your time and do your research, you will notice that there are plenty of great communities with amazing views. The only downside is that they didn’t develop as fast as other neighborhoods did. This means that there is no shopping mall nearby, and you’ll have to commute there every time you need something.
On the other hand, this is actually great because if you’re looking to buy a home in California , it will be much cheaper than living in a more developed area.
Crime Rate – Even though the statistics on criminal activities don’t look very good, they’re not as bad as you might think. People are much safer in California than in any other state, so don’t let the news fool you into thinking that there are more crimes committed here than elsewhere.
Crime rates tend to be higher in poorer areas because people who live there have no other choice but to stay. Yes, it’s true that there are a few gangs in these neighborhoods, but they’re mostly located outside. In other words, you won’t be affected by them if you decide to live inside your gated community .
Perimeter Walls and Security Guards – The best thing about living in a poorer neighborhood is that you will have an extra layer of protection for your family. All those walls and security guards that you see? It’s because most people living in such communities don’t feel safe without them, as they’re constantly worried about criminals breaking into their homes.
On the other hand, this is actually good news for you because if you ever consider buying a home in California , there will be plenty of affordable neighborhoods available. Yes, the houses aren’t in such great conditions and most of them look like they’ve been abandoned for years, but it’s a good place to start from if you want to build your own home in California .
Cons of Living in the Richest Neighborhoods in California
The Drought – A few years ago, California was hit by one of the worst droughts in history, and most people didn’t know how to react. However, it’s safe to say that this is one of the biggest problems when it comes to living in richer neighborhoods.
Unfortunately, there are hundreds of areas like these throughout the state which use water at an alarming rate. The only reason why they don’t get in trouble with the authorities is because of all their money. But it’s not like this will last for long, and nobody knows exactly what will happen in the future.
Stay Away From Bad Neighborhoods – This doesn’t mean that you shouldn’t live in California. Although some rich neighborhoods in the state are pretty dangerous, you don’t have to live in them. Just make sure that you always pick a community which is close to all necessities and has good security. Furthermore, don’t forget about the perimeter wall – it will ensure that criminals won’t be able to get into your house and protect your family.
Commute – One of the most annoying things about living in a poor community is that you have to commute every day. You will have to drive for at least 30 minutes, and it won’t be a very pleasant experience.
However, this is a small price to pay if you want to live by yourself far away from everyone else. All those distractions which are present in crowded areas can take away your focus, and that’s why you won’t be able to achieve the success that you deserve.
No Public Transportation – You will have to own at least one car if you want to live in a poor community. There is no other way around it, but having your own vehicle isn’t so bad after all…
Public transportation is not great in California , and you should be ready to face this problem. However, at least there will always be a place for you to park your car, so this is definitely one of the few advantages of living in such places.
Safety – The last thing that you should know about these kinds of communities is that they’re not very safe. Yes, they might advertise that everything is fine and well in the neighborhood, but this doesn’t mean that you won’t see any crime committed there.
Burglars can easily break into your house while you’re not home, which means that you will have to take extra security measures if you want to keep your family safe.
Cons of Living in Poorer Neighborhoods in California
Although there are plenty of reasons why people love living in poorer neighborhoods in California, there are just as many things that they hate about it.
For example, most people feel like they’re always in danger when living in such communities.
- The houses are not really in a great condition, and this can make you very nervous every time you come back home after work.
- Another major issue for some people is that they don’t feel like their children will receive the best education in such communities.
This doesn’t mean that you should give up on living in California no matter how much you love it, but maybe you need to adjust your expectations. You can always find a better place for yourself and your family as long as you know what to expect.
Most people in California love to live in richer neighborhoods, but not everyone knows the downsides of doing so. If you want to be successful in life, it’s important for you to know what exactly is waiting for you on the other side. And who knows – maybe finding a nicer place will lead to a better lifestyle overall!
What is the wealthiest neighborhood in California, according to Forbes? Holmby Hills, in Los Angeles, takes the prize.
This list provided you a look into the rich and lavish areas where the well-off people reside. California’s wealthiest communities provide its residents with opulent luxury, breathtaking vistas, vast open spaces, and high levels of seclusion to allow them to live their lives in peace.
6 Richest Neighborhoods in California
- 1. Cameo Highlands & Cameo Shores
- 2. Corona Del Mar Beach
- 3. La Jolla Farms
- 4. Pelican Crest & Pelican Hill
- 5. Beverly Park
- 6. Holmby Hills
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