The high housing demand in Southern California and the tight market speak loudly of its popularity among homebuyers and renters. Southern California boasts amazing lavish beaches, plenty of job opportunities and elegant entertainment – um, did I mention lavish beaches? However lovely this sounds, the American dream doesn’t come cheap. Our sister company Property Shark prepared a ranking of the most expensive neighborhoods in Los Angeles County. The study reveals that the median home sale price in 6 out of the top 50 neighborhoods is above $5 million, with the most expensive neighborhood boasting a median price of a whopping $15.7M.
Here are the top 10 neighborhoods in L.A. county with the priciest homes:
Malibu Colony Beach is the title holder for the priciest neighborhood in LA County for homeowners. The median sale price of a house here is a whopping $15.7 million. Tom Hanks, Sting and Leonardo di Caprio are just a few of the celebrities that call Malibu Colony Beach their home, so this tells us a lot about the exquisite quality of life in this area. This exclusive neighborhood boasts luxurious beach properties on sprawling lots, with multiple layers of privacy, unique views and top-notch designs, to match the sky-high prices.
Trousdale Estates, located in Beverly Hills, ranks second in this top, where the median sale price of a home is $8.5M. As one of the most sought-after areas for the rich and famous, Beverly Hills is the embodiment of glamor and extravagance. Major Hollywoodian figures believed this to be true, as Beverly Hills is associated with plenty of stars like Jennifer Aniston and Madonna.
Malibu’s Cove Colony is the third most expensive neighborhood on the list, with a slightly lower median sale price than Trousdale Estates. For a median price of $8M, a resident can delight in owning a gorgeous home in one of the most sought-after places in the world. Broad Beach(#6), Point Dume(#9) and Malibu Park(#10) are also Malibu neighborhoods that make the top 10.
Here’s what you can rent in Los Angeles’ best neighborhoods
Even though these prices are out of reach for someone who doesn’t make millions, don’t give up hope. If you cannot afford to buy a home in these pricey neighborhoods, but love the L.A. area none the less, you can take a look at rental apartments in some of the best neighborhoods that the city has to offer, from luxury apartments in Los Angeles to moderately priced ones. Apartments in the city of Los Angeles generally rent from $1,523 to $3,156 per month and come in sizes from 502 to 1,332 sq. ft., respectively.
Good neighborhoods are not as unaffordable as they might seem, but make sure you get the most bang for your buck when renting here. For instance, Wayfarer Apartments + Marina offers spacious rental apartments in the desirable Marina del Rey neighborhood, ranging from $2,826 to $4,888 per month. Besides being in an amazing location, its residents have access to resort-inspired amenities such as a fully-outfitted fitness center, a clubhouse with fireplace lounge and private boat slips.
There are 12 Los Angeles neighborhoods that make Property Shark’s top 50 list, with Brentwood being the most expensive of them. But when it comes to rentals, prices are a bit more down to Earth. At Sunset Barrington Gardens in prestigious Brentwood, you can rent a one-bedroom apartment from $2,358/month and indulge in an array of amenities and stylish interiors.
Browse hundreds of exquisite rental apartments in Los Angeles to find your dream home in California.