Where the rich are taking up residence

Follow the smart money… or at least those with plenty of money!

While we local residents are predisposed to thinking that CA is just about the greatest piece of land on this beautiful planet, it seems that we are not the only ones with this notion.  According major sources such as Zillow and CNBC, it seems that out of the 16 cities identified as being where the rich are taking up residence, nine of them are right here in California!

Below are the nine locales, that are a hot commodity at the moment, listed from highest median home value to lowest:

 

Hillsborough

At $2.14 Million as a median price for a home, Hillsborough tops our chart.  Roughly 15 miles south of San Francisco, located on the peninsula, Hillsborough is unique in several ways.  First as you drive around you may notice something strange, or rather not notice something, as there are no condos, apartments, or townhomes in this City; and while this may seem slightly off, bear in mind that this is by design.  In fact the town has regulations specifically regarding not only minimum house sizes, but also lot sizes, as they believe it is of the utmost importance to preserve the estate-ly feel of their “quaint” territory!

 

 

Beverly Hills

What a surprise!  Beverly Hills, home of celebrities and stars of all calibers, comes in at second with a median house price of $1.88 Million.  With a city budget roughly equally to the gross national product of the British Virgin Islands, one can expect to find that included in the price tag of their mansion is a beautifully manicured city, with a peaceful vibe and an abundance of boutiques specializing in everything from Hermes to Aqua Pure Breed for dogs!

 

 

Saratoga

Ranking third in our list is Saratoga, CA, with a modest average price home price of $1.42 Million!  Located at the base of the Santa Cruz Mountains, in the Silicon Valley, Saratoga is truly rural – chic.  Serving as a quiet town for Silicon Valley big shots, Saratoga, has not only the natural aesthetics of any foothill community but also the amenities required by those who can afford to live here.

 

 

 

Palos Verdes Estates

Next on our list is the oldest town on the Palos Verdes Peninsula, and since inception in 1939, Palos Verdes Estates has been one of the most desirable places to live in Southern California.  With a median price of $1.37 Million, and a population of just 13,771, exclusivity naturally lends itself to this part of the peninsula.  With regulations regarding open space minimums in the town, new development is scarce, and those with property are holding onto it tightly!

 

 

Manhattan Beach

With a population of only 34,551, this Santa Monica Bay suburb is located on some of California’s most beautiful beachfront; and at a mere $1.17 Million, it seems that the few lucky people who live there agree that it about the most beautiful place to live within a 15 minute drive of LA proper.

 

 

 

Piedmont

Named after the beautiful Alp’s surrounded region in France, Piedmont CA ranks sixth on our list.  At a median price of $1.09 Million per house, if it weren’t for the weather, some would probably find that their money would fetch a better piece of land in the namesake, than in the remake!

 

 

 

Newport Beach

Roughly an hour south of Los Angeles, one finds a string of beach communities and villages that make up Newport Beach.  Gaining interest as of the last decade or so, Newport, has climbed to number seven on our list with a median home price of $1.08 Million.  Even with a larger population that the other cities/towns on our list, Newport remains one of the cleanest beaches in the country – according to the National Resources Defense Council.

 

 

Cupertino

Nestled in the Silicon Valley, lies a city by the name of Cupertino, CA.  Within this city, lies a small little company called APPLE!  With the disposable income generated from this company and other local leviathans, it is no surprise that Cupertino’s average home price comes in at $1.02 Million; and despite being a location for big businesses, Cupertino manages to retain its quaint town like feel, that so many love.

 

 

Alamo

Last but not least, a small unincorporated town in the SF Bay Area, Alamo comes in at a median home price of $1.01 Million.  One of the attracting aspects of Alamo is the extremely low population density.  With a rural feel and no shortage of sprawling ranches and horses, Alamo is place where you have to walk a relatively large distance to reach your neighbors front door; and many will pay much to live here!

 

 

There are plenty of amazing properties and communities amongst us in California, and if you know of any we take a look at, let us know below in the comments section.

 

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John is the Vice President here at JohnHart, and as such is responsible for managing and directing the firm towards obtaining its ultimate goals.
He is also one of our main contributors on the Blog. (please see his profile page on the main site for more information.)

About John Maseredjian

John is the Vice President here at JohnHart, and as such is responsible for managing and directing the firm towards obtaining its ultimate goals. He is also one of our main contributors on the Blog. (please see his profile page on the main site for more information.)

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