Are you moving to California or somewhere inside the state? In that case, grasping the cost of living across various cities is essential. Regardless of whether you’re planning your move based on luxury budgets or looking to steer clear of places with steep prices, investigating the priciest cities in California could provide valuable insights.
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 discrepancies.
Expensive areas in California
The compilation of costly regions within California was derived from information provided by Fly Homes and The Travel. In our evaluation, we took into account several aspects such as housing costs, healthcare expenses, transportation fees, and grocery prices—all notably higher than the U.S. averages. Therefore, what are the priciest locations in California?
|
City |
Cost of living (compared to the national average) |
|
San Francisco |
169.9% |
|
Palo Alto |
169.9% |
|
Santa Barbara |
154.7% |
|
Newport Beach |
150.3% |
|
Beverly Hills |
149.1% |
|
San Jose |
149.1% |
|
Santa Monica |
149.1% |
|
Malibu |
149.1% |
|
San Diego |
142.5% |
|
Oakland |
140% |
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 this city exceed the U.S. average by 190%, with utility expenses being roughly 35% higher as well. Essentials such as apparel, meals, and grocery items come out to be approximately 20% dearer here too.
Moreover, the wealthiest neighborhood isPresidio Heights, where the average household earns$209,750 annually.
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 within California. The high monthly expenses here are primarily due to costs related to accommodation, meals, transit, 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 its “American Riviera” nickname, Santa Barbara captivates visitors with its beautiful coastline and offers numerous picturesque and sunny beaches. With a living cost of 154.7%, it ranks as one of the priciest places in California. Among neighborhoods, Campanil stands out as the most costly area, featuring a median home price of $4,303,781.
4. Newport Beach
The cost of living in Newport Beach is 150.3% of the national average. Investors get better returns compared to other pricey areas in California when they invest in Newport Beach.
The urban neighborhoods offer competitive pricing, enabling investors to acquire properties at reduced costs. Furthermore, the area’s temperate weather and attractive shorelines attract millions of visitors annually.
5. Beverly Hills
Considered among the most affluent cities in Los Angeles, California, Beverly Hills boasts a living cost that stands at approximately 149.1% of the national average.
The city’s historical buildings and opulent facilities attract those 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, which positions it as one of the priciest cities. The median home value stands at $706,295, equating to a median price of about $541 per square foot. Among the most costly areas within 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 between roughly $10 million and 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, featuring houses averaging around $1.31 million. Residents here have 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 in town is Fairview Park, where the median home value stands at $1,570,657 and the typical monthly rent amounts to $2,235.
Nevertheless, the whole of Oakland provides a distinctive and varied experience, distinguished by its vibrant culture that makes it stand out among other cities in the San Francisco Bay Area.
Wrapping up
The priciest cities in California owe their expense to several elements such as robust employment sectors, notably within tech and entertainment fields, an appealing weather pattern, and numerous 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 these costly metropolitan areas.
The website .co.ke has released an article detailing the priciest African cities for expatriates. Professionals moving overseas rely heavily on information regarding expenses when choosing locations. Various elements must be taken into account such as exchange rates, investment opportunities, and currency values. To view the full list of these costly urban centers across Africa, check out this piece.
