The Nation's Most Expensive Real Estate Located In Los Angeles County
Los Angeles, CA - Real Estate
Beverly Hills is a city found in Los Angeles County, California. The city and adjacent West Hollywood are both completely surrounded by the city of LA. The area's wealthiest neighborhoods, comprising the most exclusive real estate in the nation, include Beverly Hills and the neighborhoods of Bel-Air and Holmby Hills.
One of the most well known features of Beverly Hills is the Sunset Strip, which is shared with nearby West Hollywood, on the famed Sunset Blvd. Other main roads include Wilshire Blvd and Santa Monica Blvd. A couple of the shopping streets are Beverly Drive and Rodeo Drive. Coldwater Canyon Drive is the main thoroughfare from Beverly Hills to the San Fernando Valley.
Every single person in Beverly Hills is not rich, as portrayed by Hollywood. Though some of the largest mansions in Los Angeles County are within its limits, they make up only about 10 percent of the city. The rest of the residences include small duplex rental units and detached homes of less than 3,000 square feet. Several areas within Los Angeles County are more uniformly wealthy and can boast of a higher household median income than Beverly Hills. The city's average household income, a bit more than 71,000 dollars, is only 18,000 dollars higher than the county average.
Currently, Beverly Hills has the most expensive housing market in the United States, for the second year in a row with a median home cost of 2.21 million dollars.
The median household income for Beverly Hills was nearly 71,000, typical for an upper-middle class suburb and close to the median for the city of San Jose, situated in the same State. However, the median cost for an owner-occupied house is more than one million dollars. The underlying reason for this is the unusually large number of renters in the city. So many renters live in Beverly Hills that persons who own homes are not the majority. Renter-occupied homes comprise 56.6 percent of the city's residences and the median household income for these housing units is just under 50,000 dollars, just a bit above average for the entire nation. The median household income for an owner-occupied housing unit in Beverly Hills is 125,000 dollars.
Beverly Hills has three newspapers: the Beverly Hills Courier, Beverly Hills Weekly and Beverly Hills 213 magazine. The Beverly Hills Post, once one of the main newspapers, is now out of business. Because of its geographical location, the city is served by all LA TV, radio, and newspaper media.
About the Author
Matt Paolini is a land survey writer for CityBook, the family-safe Online Yellow Pages, which carries an extensive directory on Los Angeles real estate agencies and brokerage
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