Top 10 Most Exorbitant Cities in California for Luxury Living – International Edition (English)

Are you moving to California or around within the state? In that case, getting familiar with the varying cost of living across different cities is essential. Regardless of whether your budget allows for the finest luxuries or you're looking to identify areas to steer clear from because of their expenses, examining the priciest cities in California could prove quite informative.

The cost of living in California ranks as one of the highest in the United States, with prices being approximately 30% above the national average. Nonetheless, the scarcity of reasonably priced homes significantly contributes to these substantial pricing differences.

Expensive areas in California

The compilation of pricy regions within California draws upon information sourced from Fly Homes and The Travel. This assessment encompasses several aspects such as real estate, medical care, commuting costs, and food expenses, with each element notably exceeding the nationwide norm. Therefore, what locations stand out as being particularly costly in California?

1. San Francisco

The cost of living in San Francisco stands at 169.9% of the national average, which makes it the highest-priced city in California. Housing costs in the city exceed the U.S. average by 190%, with utility expenses being roughly 35% higher as well. Essentials such as apparel, nourishment, and provisions also come out to be approximately 20% dearer here.

Furthermore, the wealthiest neighborhood isPresidio Heights, where the median householdincome stands at$209,750.

2. Palo Alto

The cost of living in Palo Alto is approximately 169.9% of the national average, which makes it the most opulent area in California. The high monthly expenses primarily come from costs related to accommodation, meals, travel, energy, medical care, as well as various additional products and services.

The median home price in Fairmeadow stands at $3,002,646, with a typical rental cost of $2,776, making it the priciest neighborhood within Palo Alto.

3. Santa Barbara

Boasting the nickname "American Riviera," Santa Barbara is renowned for its picturesque coastline and numerous beautiful, sunny beaches. With a living cost index of 154.7, it ranks among the priciest places in California. Notably, Campanil leads as the most costly neighborhood within the city, featuring a median home price of $4,303,781.

4. Newport Beach

The cost of living in Newport Beach stands at 150.3% of the national average. Investors find better returns in Newport Beach compared to other pricey areas within California.

The urban districts offer competitive pricing, enabling investors to acquire properties at reduced costs. Moreover, the pleasant weather and attractive shorelines attract millions of visitors to the city annually.

5. Beverly Hills

Considered among the most affluent municipalities in Los Angeles, California, Beverly Hills boasts a living expense that stands at approximately 149.1% of the national average.

The city’s historical buildings coupled with its opulent facilities attract people seeking extravagant living. Primarily, it lures the affluent and renowned, such as stars and notable personalities.

6. San Jose

The cost of living in San Jose is approximately 149.1% of the national average, ranking it among the priciest cities. The typical home here sells for around $706,295, translating to a median price of about $541 per square foot. Among the most costly neighborhoods in San Jose are West San Jose, Almaden Valley, and Cambrian Park.

7. Santa Monica

Santa Monica stands out as one of the most picturesque neighborhoods in California, boasting a wealth that is 149.1% higher than the national average. Its opulence can be attributed to its desirable seaside position, high-end facilities, and robust economic opportunities. In this city, the typical home sells for around $1,635,000, translating to a median cost of $986 per square foot.

8. Malibu

The cost of living in Malibu is approximately 149.1% of the national average, making it quite expensive. Known for its stunning shorelines, this city boasts more than 20 beaches such as Surfrider Beach and Zuma Beach.

Carbon Beach, often referred to as Billionaire's Beach, is regarded as one of the most affluent areas in Malibu. The cost of homes in this region varies from around $10 million to well above $100 million.

9. San Diego

The cost of living in San Diego stands at 142.5% of the national average. This city boasts large properties, cliff-top residences, and a tight-knit community atmosphere. Among its neighborhoods, Point Loma is the wealthiest, where the typical house is valued at around $1.31 million. People residing in Point Loma benefit from convenient proximity to harbors, shores, and culinary options.

10. Oakland

The cost of living in Oakland is approximately 140% of the national average, placing it among the priciest cities in California. The most costly neighborhood within the city is Fairview Park, where the typical home sells for around $1,570,657 and rents go for an average of $2,235 per month.

Nevertheless, the whole of Oakland provides a distinctive and varied experience, distinguished by its vibrant culture that differentiates it from other cities in the San Francisco Bay Area.

Wrapping up

The priciest cities in California owe their expense primarily to several key elements: robust employment sectors, notably within tech and media; an appealing weather pattern; and abundant cultural and leisure activities. Grasping these influences is essential for decision-makers, future inhabitants, and financiers as they tackle the intricacies of residing and conducting business in such costly metropolitan areas.

The website .co.ke has released an article detailing the priciest African cities for expatriates. Professionals relocating overseas rely heavily on information regarding expenses when choosing new locations. Various aspects should be taken into account such as exchange rates, investment opportunities, and currency values. To find out which African urban centers top the cost-of-living charts for foreigners, check out this piece.