12 Most Expensive Places to Live in California in 2023 – List of Cities & Towns
We evaluated all the data to find the most expensive places to live in California in 2023. Our list has the most expensive cities in California and the most expensive towns in California.
The Golden State is home to some of America’s highest earning households, which has helped develop some of the most exclusive and expensive areas in the nation.
We found that these desirable communities were located all over the state, but were mainly situated near the shoreline and in the vicinity of San Francisco and Los Angeles.
It makes sense, too. California offers an enticing blend of good weather, a strong economy, and a great culture. So, where are all of these wealthy areas located?
We broke down our evaluation into 2 sections to give you an in-depth understanding of the most high-priced areas in California.
- Most Expensive Cities in California
- Most Expensive Towns in California
This breakdown can give you a sense of wealth in the big cities as well as pinpointing the richest towns in the state in case you were interested in moving to one of them (or if you are just curious).
Let’s take a look at the most expensive places to live in California so you know where you want to head (or avoid) next.
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Most Expensive Cities in California in 2023
We will start with the most expensive cities to live in California. Our definition of a “city” is a population area that is above 10,000 people. We used PropertyShark’s latest study on the most expensive zip codes to help us out.
Their definition of “expensive” is based on the median sale price of homes in the past year within a zip code, so that is what we used to sort our cities as well.
1. Santa Monica
Population: 90,401
Median Home Price: $3,750,000
Location: Check on Google Maps
Santa Monica tops this list of the most expensive places to live in California. Located right on the Pacific Ocean in western Los Angeles, this coastal city is best known for its relaxed atmosphere, beautiful beaches, and the famed Santa Monica Pier.
Specifically, its North of Montana neighborhood is one of the priciest in all of the U.S., coming in 3rd place overall and making it the most expensive area in California.
2. Beverly Hills
Population: 33,792
Median Home Price: $3,750,000
Location: Check on Google Maps
Right next to Santa Monica is the legendary Beverly Hills. Also located in Los Angeles, Beverly Hills is world-renowned for its posh mansions, exclusive shopping on Rodeo Drive, and high-end restaurants. It is the home to numerous celebrities like Taylor Swift, Jennifer Aniston, and Mark Wahlberg.
The most expensive area in this city is its famous 90210 zip code.
3. Los Altos
Population: 30,504
Median Home Price: $3,453,000
Location: Check on Google Maps
Los Altos is a small suburban city in Northern California that sits right between San Francisco and San Jose. It is highly regarded as one of the best places to live for families in the Bay Area.
We even named it a top place to live in all of California in 2023.
Los Altos offers many picturesque neighborhoods as well as a small commercial district with restaurants and cafes.
Its proximity to both Bay Area cities as well as its neighboring city of Mountain View (the home of Google) also makes it attractive to many families, which in turn makes it one of the most expensive areas in California.
4. Palo Alto
Population: 65,364
Median Home Price: $3,298,000
Location: Check on Google Maps
Palo Alto is right up the road from Los Altos and is a sizable city in itself that offers many exclusive neighborhoods as well as a thriving downtown area. It is also the home to Stanford University.
Just like Los Altos, Palo Alto’s strategic location between San Francisco and San Jose make it a highly sought-after community to live in. Specifically, the area of Downtown North and Old Palo Alto are the highest priced within the city.
5. Burlingame
Population: 65,364
Median Home Price: $3,298,000
Location: Check on Google Maps
Burlingame takes 5th place on our list of the most expensive cities to live in California. It is an affluent city of over 65,000 residents that is just south of San Francisco and next to the airport.
It sits right on the bay, so it offers lots of access to and views of the water.
Burlingame also features a cute, walkable downtown district alongside its numerous residential neighborhoods. It is possible to reach San Francisco by train in about 40 minutes, making it a great city for commuters as well.
6. Santa Barbara
Population: 91,364
Median Home Price: $2,925,000
Location: Check on Google Maps
Santa Barbara is nestled between the Pacific Ocean and Santa Ynez Mountains. It is about 100 miles away from Los Angeles and is actually the largest city on this list of the most expensive cities in California.
It features excellent weather all year round and quick access to the water and the hills, making it an ideal place for outdoorsy people. It is also well-known for being a haven for education, with four universities in the city and some of the top school districts in the area as well.
It even has its own airport.
Most Expensive Towns in California in 2023
To find the most expensive towns in California, we only considered areas that have a population of less than 10,000 residents. We also used the same research data from PropertyShark to help narrow down our list.
1. Atherton
Population: 7,168
Median Home Price: $7,000,000
Location: Check on Google Maps
Atherton is a small community in San Mateo County about 30 minutes south of San Francisco. With a median transaction price of $7 million per home last year, Atherton ranked #1 as the most expensive place in all of America.
In fact, it was almost double the value of 2nd place, which is a small town in The Hamptons in New York.
What makes Atherton such a high-priced town? Well, it is centrally located in the Bay Area, just 20 minutes from the headquarters of tech giants like Facebook and Tesla.
Its residential neighborhoods filled with sprawling mansions are beloved by many high-earning executives and celebrities. For example, Stephen Curry bought a $31 million estate in Atherton in 2019.
Meanwhile, the household income for the whole town averaged a staggering $525,000, which is the only community on this list that reached above the half-million mark.
2. Ross
Population: 2,290
Median Home Price: $3,605,000
Location: Check on Google Maps
Ross, California is a small town located just north of San Francisco across the bay in Marin County. This mainly residential community has a more rural feel than most of the other cities and towns on this list, although there is a small main street that offers a handful of restaurants and cafes.
Ross is popular among families who need to work in San Francisco, but want some extra space along with a strong school system.
3. Portola Valley
Population: 4,592
Median Home Price: $3,530,000
Location: Check on Google Maps
Portola Valley is a small town nestled in the forested hills of San Mateo County next to Palo Alto in Northern California. It is about a 40 minute drive from San Francisco and is best known for its relaxed, open spaces and the countless number of trails that originate from the town.
Portola Valley’s sprawling residential neighborhoods are popular among tech workers.
Its ideal location in the heart of Silicon Valley has attracted many millionaires and billionaires, making it one of the most expensive towns in California.
4. Newport Coast
Population: 9,741
Median Home Price: $2,998,000
Location: Check on Google Maps
Newport Coast is a large town that is part of the Newport Beach community right on the coast of the Pacific Ocean. It sits just south of Los Angeles and is about 45 minutes from downtown LA and 1.5 hours from San Diego.
Its prime location right on the shores offer many of its privileged residents sweeping views of the ocean.
Meanwhile, it offers easy access to many hiking trails as well as some of the best beaches in the nation, as neighboring Huntington Beach and Laguna Beach are just minutes away.
5. Belvedere
Population: 2,104
Median Home Price: $2,964,000
Location: Check on Google Maps
Belvedere is a quiet coastal town just across the bay from San Francisco, which offers many of its residents a breathtaking view of the skyline. It is actually made up of 2 islands and a lagoon, giving the community a cool maritime vibe that is unique in the area.
Commuters also have the choice of either driving to San Francisco or taking the ferry from Tiburon to reach downtown in under 30 minutes.
6. Stinson Beach
Population: 632
Median Home Price: $2,770,000
Location: Check on Google Maps
Stinson Beach is a tiny community of just over 600 inhabitants that is located in Marin County about a 45 minute drive from San Francisco. It is popular with Bay Area residents and tourists as a quick day trip to the beach.
It’s a truly picturesque beach town that is removed from the rush of modern life. There is even a small little downtown that lines Highway 1, where you can find quaint restaurants, cafes, and a bookstore.
Summary – Most Expensive Places to live in California
There are many wealthy cities and towns across California. The most expensive ones are mainly located near San Francisco in the north and Los Angeles in the south of the state.
These privileged communities offer many great amenities and a standard of living that is through the roof, but also come with eye-watering prices.
If you can afford it, then the cities and towns listed here could be an excellent match for your next move.
Frequently Asked Questions
What is the most expensive area in California in 2023?
Generally, the most expensive area in California is Northern California in the Bay Area. This area has, on average, the most expensive housing prices and well as the highest cost of living within the whole state.
In fact, the cost of living in San Francisco is approximately 270% higher than the rest of the U.S.
What is the most expensive town in California in 2023?
That honor belongs to Atherton, a small town of 7,000 residents in Northern California that has an average home price of $7,000,000.
That also makes it the most expensive town in all of the U.S. as well.
What is the most expensive city in California in 2023?
The top large city is Santa Monica with average home prices clocking in at almost $4 million and a cost of living that is over 200% higher than the rest of the U.S.
